Swiss Watch Exports May Slide 30% This Year on Pandemic
- Swiss watchmakers face a long road to recovery: trade group
- Industry faces challenges on many fronts, like travel slump
Photographer: Fabrice Coffrini/AFP via Getty Images
The Swiss watch industry faces a 30% drop in exports this year as the coronavirus pandemic slashes international travel and key markets outside China still grapple with the outbreak.
The Federation of the Swiss Watch Industry gave the forecast after shipments declined 36% to 6.9 billion francs ($7.4 billion) in the first half. A full-year decline that big would be the worst performance in decades.