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Swiss watch exports to China plummet 50%

The Swiss Watch Industry Association has released new data indicating that Swiss watch exports experienced their largest decline of the year in September, with sales to China dropping by 50%. Overall, exports decreased by 12.4% to 2.1 billion Swiss francs ($2.3 billion). Sales to Singapore fell by 13.9%, while sales to South Korea dropped by 19.8%. Exports to other European countries declined by 3.4%. The only major markets to show growth were the US (2.4%) and Japan (2.0%).

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