The decline in Swiss watch exports accelerated in March had their lowest 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 according to the recent report of the Federation of the Swiss Watch Industry.
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; UAE was down 2.7%; Saudi Arabia was down 15.7%, Kuwait was down 15.5%; and Germany was the only main market with growth; it was up 2.2 percent.