Swiss Watch Exports Drop in November as Demand Slump Widens
- Major markets show declines, with the exception of US
- Drop in watch exports was across all price categories
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Swiss watch exports fell for a third straight month in November as shipments to China plunged, putting the industry on track for its first negative performance since the pandemic-disrupted year of 2020.
Exports of Swiss timepieces and watch movements declined 3.8% overall to about 2.4 billion Swiss francs ($2.6 billion) in value, led by a 27% drop to mainland China, the Federation of the Swiss Watch Industry said Thursday.