Swiss Watch Exports Jump 6.9% in July on U.S. Stockpiling Ahead of Tariffs

Swiss watch exports rose 6.9% in July compared to the same month a year ago, according to the Federation of the Swiss Watch Industry Exports.

Such exports grew to $2.98 billion. “boosted by the uncertainties surrounding U.S. tariffs.”

Swiss watch exports to the U.S. jumped by 45% in anticipation of tariffs, the organization reported. Excluding the impact of exports to the U.S., they would have decreased by 0.9%.

“In reality, this was a move to build up local stocks and provides little insight into the actual state of the market,” the federation stated.

The U.S. began imposing tariffs of 39% on goods from Switzerland as of Aug. 7.

The July figures were a change from June, when Swiss watch exports fell sharply, Bloomberg noted.