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Swiss watch exports have grown by almost 17% in Janaury this year in comparison with January 2010 according to a report this Tuesday by an industry group. The figures were not as strong as the last two months but this is due to the seasonal and Christmas sales from the end of 2010. Demand for Swiss watches fell in Italy but grew in Germany, but demand was at its strongest in Middle East countries such as Dubia and Qatar and also in the Far East in China and Hong Kong. According to the Federation of the Swiss Watch industry the total exports were 1.1 Billion CHF (Swiss Francs), which equates to 1.16 billion USD in January this year which is 16.9% higher than the previous year. This comes at the same time as figures released for Swiss exports also showed marked improvement on last year with exports growing 9.4% in real terms, proving that Switzerland is one of the few countries to escape the current economic recession relatively unharmed. Exports grew by almost 35% to China, there was a 10.2% increase in exports to Germany and U.S. exports also grew by 6.7%. Increased demand for Swiss products across Asia also helped to increase growth.

This year has got off to a great start for Swatch Group after reporting huge sales gains last year and already on target for its 2011 goals and market predictions. Last year the Swatch group had record sales of 6.4 billion Swiss Francs according to Swatch and they are expected to employ between one thousand and two thousand extra workers to keep up with demand for their products. According to Swatch Group the backlogs in production are across its Swatch, Tissot, Longines, Omega, Breguet and Blancpain brands. The Chief Executive Officer of Swatch Nick Hayek told Reuters news in an interview that, 'It is not just movements. That is the least problematic. The most problematic is cases, glasses, dials, and hands'. He added that they have bought land all over Switzerland to add production facilities to keep up with the demand from its customers. TAG Heuer Chief Executive Officer Jean Christophe Babin also told Reuters news it plans to add workers to its Swiss work force. He stated that he plans to add an additional 40 to its 450 person work force. He also stated though that his company has fears about finding new younger watch makers as they are a dying breed and other larger production groups are on the prowl for these experts and that they have established their own school to help people learn the craft of *** luxury time pieces for the company.