The growth of the Swiss economy increased by 0.8% in the first three months of 2025, the government announced on Monday, that is, its highest quarterly rate in two years, companies rushed to export to escape the threat of US customs tasks.
The deliveries of pharmaceutical, chemical, watches and precision instruments have jumped, the Swiss companies that had tried to send their products to the United States before the entry into the force of additional customs duties imposed by President Donald Trump.
The month of April was, for example, an extraordinary month for theSwiss watchmaking: Exports to the United States increased by 149.2%, which reflects concern against an imminent increase in Tariff rights.
The United States is the first export market in Switzerland, which remained in a state of shock after Trump imposed customs duties of 31% in its products in April.
Since then, this figure has been temporarily reduced to 10%, Switzerland wishes to conclude a commercial agreement in the coming weeks.
Double of its average rate
Uncertainty had a significant impact on Swiss exports and economic production at the beginning of the year.
Consequently, Swiss GDP increased by 0.8% in quarterly sliding, twice its long -term quarterly growth rate and its highest increase from the first quarter of 2023.
However, small and medium -sized companies in the engineering sector said the situation remained tense.
Another bad news fell on Monday with the index of purchasing directors, which fell 3.7 points to stay at 42.1 in May, its lowest level since May 2023, well below the 50 -point growth threshold.
The US customs situation reduces the desire of foreign clients to invest in new machines, said the Swissmechanic industrial association, while the strong evaluation of the Swiss Francia was an additional position.
Uncertainty to the maximum
Many requests for machines and equipment have been frozen or canceled, said Nicola Tettamanti, president of Swissmechanic, companies that had postponed their investment decisions.
“Economic uncertainty is as strong as it was during the Covid pandemic, and we will see the effects on GDP and the labor market in the coming months,” he said.
Source: BFM TV
