Swiss Watch Shipments Sped Up in November

RAPAPORT... Swiss watch exports grew last month at their fastest ratefor two years amid an upturn in orders from the US and increased shipments ofhigh-end timepieces. Total exports rose 3.9% year on year to CHF 2.06 billion($2.09 billion) for the month, the Federation of the Swiss Watch Industryreported Thursday. "The strongest increase was in the US, the second-mostimportant market, again reinforcing the upswing that has continued since thebeginning of the year," the federation said. Exports to the US jumped 18% to CHF 231.4 million ($234.4million). Shipments to Hong Kong, the Swiss trade's largest export market,increased 10% to CHF 287.1 million ($290.8 million), while orders from China wentup 15% to CHF 187.4 million ($189.8 million). Total shipments of watches priced above CHF 3,000 ($3,039)climbed 8% by value, while exports of those worth less than CHF 200 ($203)dropped 13%. Shipments of timepieces priced at CHF 200 to CHF 500 ($506) fell14%, and those valued between CHF 500 and CHF 3,000 slipped 1%.Exports of gold and steel watches rose 14% to CHF 311.2million ($315.2 million). Supply of timepieces made from precious metals grew7% to CHF 667.1 million ($675.7 million), while shipments of steel watchesremained flat at CHF 806.6 million ($817.1 million). Image: A store selling Swiss luxury watches in Milan. (Shutterstock)