Geneva - The Swiss set a new record for themselves, exporting in 2008 some 17 billion francs' (14.7 billion dollars) billion francs) worth of watches, a report released Tuesday said.
While this was an increase of over 6 per cent compared to 2007, the Federation of the Swiss Watch Industry warned that the final months of last year saw a 7.8 per cent decline in exports, as the financial crisis began to be felt across the real economy.
This year, the association said, will begin in the red, continuing the trend, though the highest end timepieces were holding steady through the initial phases of the crisis.