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Swiss watches still favourite in Mideast
UAE is by far biggest market for Swiss watches which remain wrist-wear of choice in Mideast region.
PARIS - Swiss watches remain the wrist-wear of choice in countries of the Middle East and Italy is their main supplier of jewellery, according to a study by a French trade organisation released Tuesday.
In 2002 Switzerland's slice of the watch market in 16 countries of the Middle East rose by 10 percent to 470 million euros (591 million dollars), nearly doubling sales from its nearest competitor China, the Professional Committee of Watch-makers, Jewellers and Goldsmiths said.
Italy led the field in exports of finished jewellery, with 44 percent of the market and sales of 483 million euros, followed by Switzerland and China.
Among importers, the United Arab Emirates (UAE) was by the far the biggest market, taking in 360 million euros worth of watches and 620 million euros in jewellery. Saudi Arabia was a long way behind in second place.
Israel was the main market for diamonds and cut stones, spending 403 million euros in 2001. Most diamonds arriving in the Middle East came from China, with Switzerland in second place.
Articles by Middle East Online
