Swiss watch exports dropped to 6-yr low

FXStreet (Mumbai) - The latest trade data released today showed, Swiss watch exports suffered their biggest quarterly drop since 2009 on account of strong CHF and competition from Apple’s smart watch.

The Swiss watch exports fell 7.2% in Q3. Exports to the US fell 18% in September, their steepest monthly drop in five years. Watch shipments make up about a tenth of Switzerland’s exports.

Total swiss exports registered a growth of 0.2%, while imports suffered a drop of 2.6%.