Swiss Watch Exports Fall Again Amid Plummeting Demand in China
- China and Hong Kong export crash outweighs US strength
- Exports headed for their first annual decline since 2020
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Swiss watch exports fell for a second straight month in October as a sharp drop in shipments to China offset growth in the US.
Exports of Swiss timepieces and watch movements declined 2.8% overall to about 2.3 billion Swiss francs ($2.6 billion) in value, with China’s imports down 39%, the Federation of the Swiss Watch Industry said in a statement Tuesday.