Swiss watch exports decline 4.4% in October
Swiss watch exports experienced a significant decline of 4.4% year-on-year in October, totaling 2.242 billion Swiss francs (CHF), as reported by the Federation of the Swiss Watch Industry. The majority of this decline came from wrist watches, which saw a 4.2% drop, bringing their value to CHF2.133 billion. The downturn was particularly pronounced in the United States, where exports plummeted by 46.8% to CHF224.3 million. In contrast, several Asian markets reported growth during the same period. China led with a notable increase of 12.6%, reaching CHF188.5 million, followed by Hong Kong, which rose by 2.4% to CHF165.8 million, and Singapore with a 6.6% gain at CHF153.1 million. However, Japan and the United Kingdom also faced declines, with Japan dropping 5.6% to CHF180.1 million and the UK decreasing by 7.4% to CHF152.6 million.
