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Swiss Watch Exports Rise 21.5% In February

03/22/2012 | 03:15am US/Eastern

Swiss watch exports rose 21.5% on year in February, driven by continued strong demand in Asia and recovering sales in the U.S., data released Thursday by Switzerland's customs office showed.

The value of watch exports reached CHF1.64 billion ($1.80 billion) in February, 21.5% higher in real terms than in the same month a year earlier. In nominal terms, the increase was 19.7%.

Swatch Group AG (UHR.VX), Compagnie Financiere Richemont SA (CFR.VX) and privately held Rolex are the main producers in the Swiss watch market.

Shares in Swatch closed Wednesday at CHF426.10, up 21% since the start of 2012. Those in Richemont closed at CHF57.85, up 22% so far this year.

-By John Revill, Dow Jones Newswires; +41 43 443 8046; john.revill@dowjones.com

--Marta Falconi contributed to this report.

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