Swiss Watch Exports Tumble Ahead of Basel Trade Fair

by swisscham in General Interest

he world’s biggest watch fair will open in Switzerland this week, even as slumping exports of luxury Swiss timepieces appear to dash hopes of a market rebound.Global exports of Swiss watches slid 10% in February to CHF 1.5 billion (USD 1.5 billion, EUR 1.4 billion), the Federation of the Swiss Watch Industry (FHS) said Tuesday.The news cast a shadow over the looming Basel world trade fair, which opens its doors to the media on Wednesday and to the public a day later.The giant gathering in the northern Swiss city of Basel is the highlight of the year for watch and jewellery makers, with hoards of retailers looking to fill their showcases with pricey bling.Investors had been hoping this year’s 45th edition would open on a more positive note amid signs that the market was stabilising and even on the verge of a rebound after two years of deep crisis.

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