The Swiss Watch Industry Federation has announced the latest figures, revealing that exports in July increased by 1.2% YoY, reaching 2.2 billion Swiss francs ($2.4 billion). However, as of July this year, the total global export value of Swiss watches has decreased by 2.4% YoY to 15.2 billion Swiss francs ($16.8 billion). By market, all regions except mainland China, Hong Kong, the UK, Germany, and Singapore have shown growth. Mainland China saw a significant drop of 32.8% to 176 million Swiss francs ($194 million), Hong Kong decreased by 19.1% to 147 million Swiss francs ($160 million), Singapore fell by 1.9% to 128 million Swiss francs ($140 million), the UK was down 2.3% to 156 million Swiss francs ($171 million), and Germany experienced a slight decline of 0.6% to 115 million Swiss francs ($126 million).