Swiss Watch Exports Rise 11% on Year in January

   By John Revill 
 

ZURICH--Swiss January watch exports rose 11% on year in nominal terms, driven by strong sales before Chinese New Year, according to data released Thursday by the Swiss customs office.

Exports of Swiss watches were worth 1.47 billion Swiss francs ($1.6 billion) in January, up from 1.33 billion Swiss francs in the corresponding period a year ago.

In real terms, which are adjusted for inflation, the gain was 12%.

The figures showed a resumption of stronger demand for Swiss watches after exports dipped in December.

Swiss watch exports reached record levels in 2012, rising 10.9% to 21.4 billion Swiss francs, helped by buoyant demand from Asian tourists visiting Europe and recovering demand in the U.S.

For 2013, analysts expect the increase in exports to return to their long-term average of around 7% to 8%.

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 CHF532, up 29% in the last 12 months, and Richemont at CHF76.60, up 39% over the same period.

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