Swiss watch exports declined for the second consecutive month in October, falling 2.8% YoY to 2.3 billion Swiss francs ($2.6 billion), driven by a sharp 39% drop in shipments to China, according to the Federation of the Swiss Watch Industry. While the downturn in China and Hong Kong reflects weakened demand following a post-pandemic boom, exports to the US and Japan rose by 11% and 20%, respectively, supported by a strong dollar and a weak Japanese yen. High-end watches priced above 3,000 Swiss francs showed resilience, growing 1.7% in value despite a drop in units, while mid-priced models fell 21% by value. With exports down 2.6% for the year so far, Swiss watchmakers are scaling back production and utilizing furlough programs, potentially marking the first annual export decline since 2020.