Swiss November Watch Exports Rise 4.6% on Year

   By John Revill 
 

ZURICH--Swiss November watch exports rose 4.6% year-on-year, according to data released Thursday by the Swiss customs office.

Exports of Swiss watches stood at 2.15 billion Swiss francs ($2.35 billion) in November. In nominal terms, which aren't adjusted for inflation, the increase was 4.6%. In real terms, the November reading was up 2.9% compared with the corresponding period a year ago.

The figures show a slowdown from the 13.2% nominal growth reported in October as Chinese consumers stayed on the sidelines amid the government handover.

In the first 11 months of the year, total watch exports were up 12.6% to CHF19.6 billion, meaning the industry has already beaten last year's annual record of CHF19.3 billion of exports.

Swatch Group AG (UHR.VX), Compagnie Financiere Richemont SA (CFR.VX) and privately-held Rolex are the main producers in the Swiss watch market.

Swatch closed Wednesday at CHF466, up 33% so far this year, and Richemont at CHF72.15, up 52% since the start of 2012.

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