Watch Market - Germany Maintains Strong Positions in EU Watch Production and Exports

Watches And Clocks November 24, 2015
Author: Irina Andreeva
Market Analyst

watch market

EU watch production showed mixed dynamics from 2007 to 2014, falling from 1 974 thousand units in 2007 to 1 794 thousand units in 2014. It dropped with a CAGR of 1.4% in the period under review. In value terms, EU production on the watch market reached 378 million EUR in 2014, growing by 2.5% annually.

The countries with the largest production rates of watches in absolute volumes were Germany (306 thousand units), followed distantly by France (51 thousand units), Italy (10 thousand units) and Denmark (7 thousand units).

Positive dynamics in watch production among the main producing countries from 2007 to 2014 were recorded in Denmark (+5.3% per year), while for the other three EU leaders (Germany, France and Italy) the paces of growth were negative.

Germany dominated in EU watch production and trade. In 2014, Germany exported the lion's share of its total watch output. Of this amount, 10% was supplied to France, where Germany's watches held an 8% share of total France imports.

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Source: EU: Watches - Market Report. Analysis And Forecast To 2020