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Foreign demand remains high for luxury Swiss-made watches

Swiss watch manufacturers exported timepieces worth over CHF21 billion ($21.7 billion) last year – the industry’s third-best result ever. Watchmaking is Switzerland’s third-biggest export sector after pharmaceutical and machine tools. Almost 95% of production is sold abroad, the majority to Asia. First the good news. Despite a complicated business year which saw a net drop in sales in Hong Kong, the main destination for Swiss-made watches, firms ended 2019 extremely...

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