Swiss tech industry struggles amid falling sales and US tariff uncertainty
Between January and March 2025, tech industry sales in Switzerland dropped by 3% compared to the same period last year, while new orders barely moved, slipping just 0.3%.
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The possible introduction of US tariffs on Swiss goods, announced by US President Donald Trump, has sparked fresh concern in Switzerland’s tech and manufacturing sector. On Tuesday, the industry’s umbrella group warned of a serious downturn if the measures go ahead. The warning comes as the sector marks its eighth straight quarter of decline, adding to the pressure.
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During the period in question, capacity utilisation in the sector dropped to 81.1% – well below the long-term average of 86%. Exports edged up slightly by 0.7% to CHF17 billion ($21 billion), driven largely by a 5.3% rise in shipments to the United States. That boost came as the Trump administration temporarily put additional tariffs on hold.
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Exports to the European Union saw modest growth, up 0.8%, while shipments to Asia dropped sharply by 6.6%. Precision instruments performed well, rising 4.5%, along with electrotechnical and electronic equipment, which grew by 1.4%. In contrast, exports of machinery fell by 2.9%, and metals were down 1.6%.
“The first-quarter sales figures are disappointing,” said Swissmem Director Stefan Brupbacher in a statement. And the outlook isn’t much better. The current results don’t yet reflect the impact of the additional 31% US tariffs announced by Trump in early April, later scaled back to 10% for 90 days.
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If the US tariffs go ahead as planned, the impact on Switzerland’s tech industry could be severe, the industry association has warned. “Policymakers need to act fast,” it said. Swissmem is urging the government to push through the free trade agreement with the Mercosur countries without delay.
Translated from French with DeepL/sp
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