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N. Korea's Swiss watch imports plunge due to sanctions: report

All News 11:20 January 11, 2019

SEOUL, Jan. 11 (Yonhap) -- North Korea's imports of Swiss watches nearly halved last year amid international sanctions imposed on the impoverished country, a news report showed Friday.

North Korea imported 112 watches worth US$12,000 in total from Switzerland in the January-November period, down 45 percent from $22,000 in the same months a year earlier, Radio Free Asia said, citing data from the Federation of the Swiss Watch Industry.

The tally has been decreasing in recent years after reaching $205,000 in 2012, it said.

"We cannot export expensive watches due to sanctions on North Korea," a federation official was quoted as saying.

The Swiss government considers a watch priced over $1,000 a luxury product, the broadcaster said, adding that those imported to North Korea in recent years were priced between $200 and $500.


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