According to the latest data released by the Swiss Watch Industry Federation, Swiss watch exports in November declined by 3.8% YoY to 2.406 billion Swiss francs ($2.68 billion), widening from the 2.2% drop in October and aligning closely with the average decline seen over the previous 10 months. In the first 11 months of the year, total global Swiss watch exports amounted to approximately 23.9 billion Swiss francs ($26.4 billion), down 2.7% compared to the same period last year. Exports to mainland China and Hong Kong in the first 11 months saw YoY declines of 26.3% and 19.7%, respectively. In November, total exports of Swiss watches to six key markets — the US, Japan, Hong Kong, the UK, mainland China, and Singapore — dropped by 7.9% YoY to 1.233 billion Swiss francs ($1.36 billion), collectively accounting for 51.2% of total global exports.