Swiss Watch Exports Rise Real 14.5% On Year In August
20 September 2011 - 4:30PM
Dow Jones News
Swiss watch exports in August rose 14.5% on the year in real
terms, driven by continued strong demand in Asia, data released
Tuesday by the Swiss customs office showed.
Exports of Swiss watches stood at CHF1.29 billion in August, up
14.5% in real terms compared with the corresponding period a year
earlier.
In nominal terms, which aren't adjusted for inflation, the gain
was 16.4%.
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 Monday at CHF369.70, down 11.3% since the start of
2011, and Richemont at CHF47.22, down 14.2%.
By John Revill, Dow Jones Newswires; +41 43 443 8046;
john.revill@dowjones.com
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