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The Federation of the Swiss Watch Industry estimates that the trade in fake watches is costing the industry around SFr800 million ($655 million) a year. (1)
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The Swiss watch industry produces around 25 million timepieces every year. At the same time 40 million fake Swiss watches are produced around the world. 70% come from Asia, mostly from China. (2) |
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Fake luxury watches now represented 10 per cent of the total international trade, worth an estimated 800 million swiss francs (655 million US dollars) to counterfeiters last year alone, said Jacques Duchene, President of the Exhibitor's Committee. (3) |
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Swiss companies saw another record year with exports up 10 per cent in 2006 on the previous year rising to 13.7 billion swiss francs (11 billion US dollars). (4) |
