P. M. BRIEFING : Swiss Watch Exports Set Record
<i> From Times Wire Services</i>
BIEL, Switzerland —
Swiss watch exports jumped 20% in 1989 to a record high of more than $4 billion, the Assn. of Swiss Watchmakers said today.
The association said Swiss watch output accounts for about 50% of world production, dominating the more expensive end of the world market.
Exports to Japan, one of Switzerland’s major watchmaking rivals, surged 70% to $295 million. As a result, the Japanese overtook the French as the fifth largest customer, the association said.
Hong Kong remains the most important market for Swiss watches. Exports to the British colony topped $660 million in 1989. The United States followed with purchases worth $560 million, Italy with $423 million and West Germany with $327 million, the association said.
