Swiss watch exports, still feeling the impact of the economic crisis, nevertheless showed a marked improvement in November as their monthly decline was the most moderate for the year. Exports of Swiss timepieces fell 10.6 percent to 1.4 billion Swiss francs, or $1.38 billion at average exchange rates, last month, compared with a 22.7 percent drop reported in October, according to the Federation of the Swiss Watch Industry. In the January-to-November period, the decline in exports was 23.7 percent.
This story first appeared in the December 23, 2009 issue of WWD. Subscribe Today.