Swiss watch exports have now been caught in its worst running slump since monthly records began in 1988. The Federation of the Swiss Watch Industry said in a statement that exports dropped 5.7 percent to 1.7 billion francs ($1.7 billion), a falling trend that has now entered its 15th month, worse than the slide after the 2008 financial crisis.

As a sign perhaps of the changing times, Swiss watch exports to the U.S. exceeded those to Hong Kong, which had been the biggest market for the timepieces for almost a decade.

Read out interview about the State of the Watch Industry