Swiss watch exports hit seven-year low

Swiss watch exports have posted their biggest quarterly drop since 2009. 

The industry has declining demand from all its main markets.

Shipments fell 8.9% in the first quarter, adjusted for working days, according to data from Switzerland’s customs office. Exports declined 16% in March, to CHF1.5bn (€1.4bn), the lowest level for that month in five years, the Federation of the Swiss Watch Industry said.