That is mainly because of the strength of sterling, which has raised the price of UK cars exported to EU countries who are members of the euro by 30%.

BBC: Renault car plant, Flins , France

Other products exported by Swiss watchmaking firms, mainly components, also experienced a sharp upturn in value (18.1 percent to 1.2 billion francs).

FORBES: Swiss Watch Exports Enjoy Record Growth In 2011