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Strong demand in China fueled a 2.7 percent rise in Swiss watch exports in January, the Federation of the Swiss Watch Industry (FH) reported in a press release. It was the first rise in 14 months. Exports to China rose 87 percent, while exports to Singaporemore than doubled and demand in Hong Kong rose 26 percent. These gains offset continuing weakness in exports to the United States, which saw a 34 percent drop.Related PostsSwatch Group Upbeat About 2010Swiss Watch Demand Drops in SeptemberSwiss Watch Industry Takes Beating in MaySwiss Watchmakers Hit the SkidsSwatch Numbers Worst in a DecadeSwiss Watch Industry in Crisis?Financial Crisis' Lastest Victim: Swiss Watch Exports, SalesSwiss Watch Exports Fall Sharply in Q1 2009

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.