Swiss watch exports rose modestly in January, with growth slowing due to weak demand for luxury and mid-priced watches. Despite a 3.1 percent increase in exports by value, compared to a growth rate of 11.8 percent in the first half of last year, the number of timepieces exported rose by only 2.9 percent. Economic and geopolitical concerns have led buyers to rein in spending on pricey Swiss watches, while exports to the US rose modestly and those to Mainland China increased by 5 percent, with a decrease of 4.7 percent to Hong Kong. Despite reaching a record high in 2023, the growth rate in the luxury watch industry slowed significantly in the second half of the year as consumers became more cautious.