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http://www.fhs.ch/en/statistics.php

NOTE: Swiss Franc is roughly 1:1 to the dollar

The month of October gave no clear signs of a change in the trend for Swiss watch exports. Their value stood at 1.3 billion francs, i.e. 22.7% less than in October 2008. Over the first ten months of the year the decline remained stable at -25.5%.

Wristwaches costing less than 200 francs saw their volumes fall sharply in October (-37.2%), setting the tone for the sector as a whole. The 200-500 francs segment registered only a slight decline in the order of 5%. Carrying on the trend of previous months, timepieces costing more than 500 francs recorded a decline of 23.2% in value terms.
 

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so that is saying basically that the economy has hurt the watch industry also...
 

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Especially hard on the below $200 level.
 
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