GENEVA: Swiss watch exports decreased for seven months in a row due to the ongoing global economic slowdown followed by decreasing demand for luxury timepieces, which is one of Switzerland’s main export commodities.
Two of the biggest Swiss goods importers, Hong Kong and the United States, were considered the most responsible for the decline in the global economy, according to the Federation of the Swiss Watch Industry, which released a statement today.
Figures of shipments fell 8 percent to 1.52 billion francs ($ 1.53 billion) in January, according to data released by the Switzerland’s customs office.
