Global exports of Swiss watches have shrunk in recent years. Global exports of Swiss watches slid by 10 percent in February year on year to $1.5 billion (1.4 billion euros). For the whole of 2016, Swiss watch exports shrank by 9.9 percent after contracting 3.3 percent a year earlier. He said the most recent figures showed there was “no underlying improvement in the industry” despite a more upbeat mood from senior executives and a more optimistic tone from the Federation of the Swiss Watch Industry. The trade fair in Basel focusing on watches and jewelry is being held for the 100th time this year.

Source: Daily News Egypt March 22, 2017 12:45 UTC