Swiss watch exports declined 3.8% by value in February due to lower shipments to China and Hong Kong.
Swiss watch exports fell for just the second time in three years, led by lower shipments to China and Hong Kong. Exports dropped 3.8% by value in February to 2.15 billion Swiss francs from a year earlier, with the number of watches shipped from Switzerland also falling 5.2% to 1.2 million units. The Federation of the Swiss Watch Industry attributed the decline to an unfavorable base effect and China's slowdown.
March 19, 2024
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