Which Country Exports the Most Watches in the World?

Watches And Clocks May 28, 2018
Author: Anna Sergeeva
Market Analyst

In 2016, the amount of watch exported worldwide totaled 780 tonnes, going up by 9% against the previous year level. In general, watch exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016, when exports increased by 9% y-o-y. In that year, global watch exports attained its maximum volume, and are likely to continue its growth in the immediate term.

In value terms, watch exports totaled $15B in 2016. Overall, it indicated a remarkable expansion from 2007 to 2016: the total exports value increased at an average annual rate of +0.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2016, watch exports increased by +106.1% against its level of 2007. Global watch export peaked in 2016, and are expected to retain its growth in the immediate term.

Top Watch Exporting Countries in the World

1. United Kingdom (321.4 million USD)

2. United Arab Emirates (229.5 million USD)

3. Spain (190.0 million USD)

4. Australia (55.6 million USD)

5. Greece (33.3 million USD)

6. Panama (8.1 million USD)

7. Turkey (5.3 million USD)

Watch Exports By Country

The countries with the highest levels of watch exports in 2016 were United Arab Emirates (181 tonnes), Panama (140 tonnes), Greece (100 tonnes), the UK (94 tonnes), and Spain (87 tonnes), together amounting to 77% of total export. Turkey (45 tonnes) occupied a 6% share (based on tonnes) of global watch exports, which put it in second place, following Australia (5%).

From 2007 to 2016, the most notable growth rate of watch exports, among the main exporting countries, was attained by Panama (+33.3% per year), while the other global leaders experienced more modest paces of growth.

In value terms, the UK ($321M), United Arab Emirates ($230M) and Spain ($190M) constituted the countries with the highest levels of exports in 2016, with a combined 5% share of global exports.Australia, Greece, Panama and Turkey lagged somewhat behind, together comprising a further 0.7%.

Greece (+34.7% per year) experienced the highest growth rate of watch exports, in terms of the main exporting countries, over the last 9 year period, while the other global leaders experienced more modest paces of growth.

Watch Export Prices By Country

The average watch export price stood at $19K per kg in 2016, standing approx. at the previous year level. Overall, it indicated a prominent increase from 2007 to 2016: the export price value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2016, watch export price increased by +103.9% against its level of 2007. The most prominent rate of growth was recorded in 2008, when it surged by 25% y-o-y. Global watch export peaked in 2016, and is expected to retain its growth in the immediate term.

There were significant differences in the average export prices amongst major exporting countries. In 2016, the country with the highest export prices was the UK ($3.4K per kg), while Panama ($58 per kg) was among the lowest.

From 2007 to 2016, the most notable growth rate of watch export prices was attained by Greece (+28.8% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global watch market? Get the latest trends and insight from our report. It includes a wide range of statistics on

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

All data provided in this article covers the following product: HS Code 9101 - Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal.

Source: World: Watches - Market Report. Analysis and Forecast to 2025