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Swiss watch exports poised for worst year since 1984: chart

In this article from Bloomberg, the authors assume that a country must continue producing the goods that it used to produce.
But with time watches get assembled in China or other Asian countries. And the Swiss focus now on more sophisticated goods: The Swiss trade balance have seen in recent years a massive shift towards chemicals and pharamceuticals.

The number of watches Switzerland exports is on track to reach the lowest level since 1984, when digital timepieces were in vogue and Swatch Group AG had just been formed in reaction to low-cost competition. Three decades later, difficult times are back: 11-month data is due Tuesday after the value of Switzerland’s watch exports dropped 11 percent in the first 10 months of the year.

While brands like Vacheron Constantin, Cartier and Vulcain cut jobs, Swatch has held back on any such announcements even as costs mount.

Watch Drop Exports of Swiss timepieces

Watch Drop Exports of Swiss timepieces

Source: Bloomberg - Click to enlarge

 

By Thomas Mulier and Corinne Gretler (Bloomberg)

 

Full story here
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Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.
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