Watch Market - Switzerland Remains the Undisputed Leader in Global Exports of Watches, with $22.9B

Watches And Clocks June 21, 2015
Author: Svetlana Sitkova
Head of Industrial Research Department

watch market

Switzerland continued its dominance in of the global watch trade. Its biggest trading partner was Hong Kong, where, in 2014 it supplied 18.5% of its total exports on the watch market into the Asian country, accounting for 50.4% of Hong Kong's total imports.

The global watch trade reached 42.6 billion USD, with a CAGR of 9.0% from 2007 to 2014. In physical terms, however, dropped sharply from 12.5 thousand tonnes in 2007 to 9.6 thousand tonnes in 2014.

In 2014, Hong Kong (24.2%), the U.S. (14.1%), France (8.2%), Japan (7.1%) and Germany (6.8%) were the leading destinations of watch imports, together making up 60.4% of global imports. In terms of destination market share, the share of Hong Kong increased significantly (+9% per year), while the share of the U.S. illustrated negative dynamics.

Switzerland and Hong Kong were the main global suppliers of watches in 2014 with a combined share of 70.4% of global exports. However, the fastest growing exporters from 2007 to 2014 were France (+14.5% per year) and the United Kingdom (+13.3% per year). Switzerland significantly strengthened its position in the global exports structure, from 3.6% in 2007 to 5.1% in 2014.

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  • watch market share
  • watch prices
  • watch industry
  • watch sales
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  • watch price forecast
  • key watch producers

Source: World: Watches - Market Report. Analysis and Forecast to 2020