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Another record year winds up for watch exporters

The Swiss watch industry is set to exceed 2013’s record exports of CHF21.8 billion ($22 billion) and is optimistic for 2015 despite economic and geopolitical uncertainty.  In recent months the industry has seen slower growth than in previous years as a result of the weakening global economy and the crisis in the eurozone, which affected the order books.  Nevertheless, Jean-Daniel Pasche, president of the Federation of the Swiss Watch Industry, dismissed talk of a crisis in the industry.  Over the first 11 months of 2014, exports of watches and watch components rose 2.3% compared with the same period for 2013, despite dropping by 4.4% in November.  “One mustn’t forget that we’re active at a very high level,” Pasche said, adding that exports could break the CHF22 billion barrier by the end of the year.  Oil price impact  Orders to Switzerland’s main export market, Hong Kong, fell by 13.5% in November but remain up 0.8% for the year. A similar situation was seen in ... Show more

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