Swiss watch exports were extremely low in April as a direct result of the standstill in production, distribution and sales, causing them to collapse by 81.3%, to 328.8 million francs. The details of this widespread decline are not particularly interesting – except for China – insofar as it reflects an exceptional situation rather than a trend in demand. China was the only country to buck the trend in April. Exports there fell by 16.1% in April following an increase in March, illustrating the recovery in the Chinese market. As a result, China accounted for a third of Swiss watch exports last month. All other markets contracted sharply. Exports to the Middle East dropped by 89.7% in terms of units where UAE recorded -89.2%, KSA 94.2% compared with the same period in 2019.