Swiss Watch Exports to US Suffer First Drop in Two Years
- US is biggest market for Swiss luxury watches ahead of China
- Decline signals slowdown in key market after recent sales boom
Global demand for Swiss luxury timepieces spiked during the pandemic and has remained relatively strong.
Photographer: Stefan Wermuth/BloombergMonthly Swiss watch exports to the US declined for the first time in more than two years signaling a slowdown in demand from the biggest market for pricey timepieces.
Exports to the US fell by 4.9% in April, the Federation of the Swiss Watch Industry said Thursday. The decline is the first since Jan. 2021 for a market that was the key driver of a record surge in sales during the pandemic.