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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.

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