Wednesday, 29 January 2020

Swiss watch exports to Hong Kong plunge in 2019

Swiss watch exports to Hong Kong, the sector's biggest market, plunged 11.4 percent in 2019 due to a wave of pro-democracy protests there, the Swiss watch industry federation said Tuesday.

Overall, however, watch exports were up by 2.4 percent to 21.7 billion Swiss francs (20.3 billion euros, $22.4 billion) because of growth in other Asian markets and the United States, the industry's second-biggest market.

"Hong Kong weighed on the 2019 numbers... and as long as the turbulence continues, the situation will be difficult," federation head Jean-Daniel Pasche told AFP.

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