Swiss watch exports had their biggest quarterly decline since 2009 as the industry struggles with the strong franc and as a slump in demand in China and Hong Kong began to spread across Asia.
The value of exports fell 7.2 percent in the third quarter, adjusted for working days, the Swiss customs office said last week in a statement. Exports dropped 2 percent in the first nine months of the year to 15.8 billion francs ($16.5 billion), according to the Federation of the Swiss Watch Industry.