Swiss Watch Exports Down in April, But Colorful Watches (Like the Royal Pop) Gain Fans

By Karen Dybis | June 03, 2026

Swiss watch exports fell 16.6% worldwide in April year-over-year, due primarily to a rush of exports last year when Swiss watch companies tried to get ahead of U.S. tariffs.

In April 2025, following the Trump administration’s tariff announcement, Swiss watch exports to the United States rose 149% year-over-year. This April, they dropped 56.4%. For the first four months of the year, Swiss watch exports were down 3.9% overall from 2025, said the Federation of the Swiss Watch Industry (FH).

“Once again, the performance of the United States set the tone,” FH said in its monthly report. “The decrease of 56.4%, due to an unfavorable base effect following the sharp rise in exports seen last year in response to the announcement of an increase in U.S. tariffs, had a strongly negative impact on the overall result.”

FH noted that the U.S. market has grown over the longer term, up 8.9% compared with April 2024.

Elsewhere for April 2026, Swiss watch exports to France increased 46.3%; to China, 17.1%; to Singapore, 17.3%; and to Hong Kong, 13.5%. On the negative side, exports fell significantly to Japan (down 12.1%), the U.K. (9.7%), Germany (6.4%), and the United Arab Emirates (9.5%), FH said.

The federation reported export declines for wristwatches in most price categories, with those at the top end—3,000 Swiss francs (approximately $3,800) and up—hardest hit, falling 19% by value, 21.3% in units, compared with the previous April.

Classified by material, watches made from precious metals plunged 24.3% and those made of steel decreased 18.1%, according to FH. “The only growth came from the ‘other metals’ category (+10%),” wrote the federation, noting that this sector is “relatively small scale.”

Jean-Philippe Bertschy, an analyst with Swiss investment firm, was quoted in a Reuters story as saying the U.S. market for Swiss watches “remains difficult to read because tariff and inventory effects are still creating a seesaw pattern that should continue through the year.”

Royal Pop update

In other Swiss watch news, online watch marketplace Chrono24 reported today that resale prices for the Royal Pop have dropped in the two weeks since the Swatch x Audemars Piguet (AP) collab’s release.

“The most expensive time to buy one was the first weekend, when demand was at its peak. That premium is mostly gone now,” Chrono24 head of brand engagement Balazs Ferenczi said in a statement. “What is left is a watch that still sells above retail, at a price that makes sense for someone who actually wants to wear it.”

“Demand is past its peak but still higher than any earlier Swatch collaborations,” the report said. Chrono24 additionally noted a “wider picture”—that the Royal Pop’s popularity could be part of a larger trend toward colorful watches.

“The Royal Pop comes in eight bright finishes, and it lands in a market that has been moving its way for years,” wrote Chrono24. “In 2018, around one in six watches sold on Chrono24 had a colorful dial. Today, it is closer to one in four, a share that has grown by about 16% over the past five years.”

Regarding the Royal Pop price drop, Chrono24’s report said: “On the first day of trading, the Royal Pop changed hands at around 5.5 times its store price, the steepest premium of the whole period, easing to under twice retail two weeks on. Buyers who paid the launch-week prices are now above the current market, but the Royal Pop still sells for more than it cost in store.”

There is one exception among the Swatch x AP models, Chrono24 said: The stylish blue Lan Ba, which is still selling above the average resale price that the Royal Pop achieved during the first few days after its May 16 launch.

Lan Ba’s resale price is about 60% higher than most other Royal Pop iterations, according to Chrono24. That aligns with the site’s findings on the colorful watch trend: “Blue is the most popular colorful dial by a clear margin,” reported Chrono24, “while green and pink have grown several times over since 2018.”

Top: The blue Royal Pop watch, shown here on a strap from aftermarket accessories brand Helvetus (photo courtesy of Helvetus)