Swiss Watch Exports Fall Sharply In March

(RTTNews) - Switzerland's watch exports reached its lowest March figure since 2011, data published by the Federation of the Swiss Watch Industry FH showed Thursday.

Exports logged a double-digit decline of 16.1 percent from last year to CHF 1.5 billion. The scale of the downturn was also unusual, the federation said.

All materials used for watch exteriors were affected by the decline. The fall in value was influenced in particular by precious-metal and steel timepieces.

The main markets were particularly hard hit. Hong Kong registered one of its steepest downturns, with a 37.7 percent plunge. The United States followed a similar trajectory, down 32.9 percent. Watch exports to China declined 13.7 percent.