15:49 - 18.09.2025

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September 18, Fineko/abc.az. Exports decreased by about 17% year-on-year.

ABC.AZ reports that this is stated in a statement by the Federation of the Swiss Watch Industry, published on Thursday. All major markets recorded double-digit declines: China - minus 36%, and the USA - the largest market in the industry - minus 24%.

In part, this drop reflects the expected correction after the high export volumes noted in April and July, on the eve of the introduction of duties, the statement says.

Nevertheless, the data highlights tougher conditions for Swiss-based watch manufacturers, including those controlled by Richemont, Swatch Group AG and LVMH, as well as for independent companies such as Audemars Piguet, Patek Philippe and Rolex SA. Swatch shares were down 2.1% in early trading, while Richemont was down 0.7%.