Swiss Watch Exports Rebound in October

RAPAPORT... Shipments of Swiss watches bounced back in October after adrop the previous month, benefiting from stronger exports of high-end timepieces. Total exports rose 7% year on year to CHF 1.99 billion ($2billion) for the month, the Federation of the Swiss Watch Industry reportedTuesday. Orders for watches priced above CHF 3,000 ($3,024) climbed 12% byvalue, while exports of those worth less than CHF 200 ($202) dropped 7%.Shipments remained flat for mid-priced watches, including those priced at CHF200 to CHF 500 ($504) and CHF 500 to CHF 3,000. "After the isolated fall in September, watch-industryexports have reverted to the sustained trend reported previously," thefederation said. Total orders from Hong Kong, the Swiss trade's largest exportmarket, grew 10% to CHF 270.5 million ($272.7 million), while supply to the USrose 11% to CHF 206 million ($207.7 million). China recorded one of its largestmonthly increases this year, the federation said, as shipments jumped 24% toCHF 184.9 million ($186.4 million). Exports of watches made of gold and steel strengthened inOctober, rising 11% to CHF 314.2 ($316.7 million). Supply of timepieces madefrom precious metals went up 8% to CHF 616.7 million ($621.7 million), whileshipments of steel watches increased 6% to CHF 790.7 million ($797.1 million). Image: Rolex window, Geneva, Switzerland. (Torange.biz)