Exports were down in all main markets except Germany
The Federation of the Swiss Watch Industry (FH) reports that Swiss watch exports had their lowest March figures since 2011 in what it characterizes as a “steep decline.”
Exports, which total $1.54 billion dollars, were down 16.1 percent year over year.
The main markets were nearly all down: Hong Kong was down 37.7 percent; the United States was down 32.9 percent; China was down 13.7 percent; Japan was down 9.4 percent; and Italy was down 3.2 percent.
Germany was the only main market with growth; it was up 2.2 percent.
The downward trend has been in effect since July 2015.
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