Price for Watch Movements; Complete and Assembled in Canada - 2023

Contents:

1. Price for Watch Movements; Complete and Assembled in Canada (CIF) - 2022
2. Price for Watch Movements; Complete and Assembled in Canada (FOB) - 2022
3. Imports of Watch Movements; Complete and Assembled in Canada
4. Exports of Watch Movements; Complete and Assembled in Canada

Price for Watch Movements; Complete and Assembled in Canada (CIF) - 2022

The average import price for watch movements; complete and assembleds stood at $27 per unit in 2022, growing by 36% against the previous year. Over the period under review, the import price enjoyed a prominent expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by 61% against the previous year. As a result, import price reached the peak level of $34 per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($57 per unit), while the price for Thailand ($4.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Watch Movements; Complete and Assembled in Canada (FOB) - 2022

In 2022, the average export price for watch movements; complete and assembleds amounted to $161 per unit, with an increase of 56% against the previous year. In general, the export price recorded prominent growth. The growth pace was the most rapid in 2016 when the average export price increased by 125%. The export price peaked at $170 per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($285 per unit), while the average price for exports to Lebanon ($4.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Watch Movements; Complete and Assembled in Canada

After three years of growth, overseas purchases of watch movements; complete and assembleds decreased by -5.8% to 109K units in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 5.3%. As a result, imports reached the peak of 116K units, and then shrank in the following year.

In value terms, watch movements; complete and assembled imports soared to $3M in 2022. Over the period under review, imports continue to indicate a abrupt descent. Over the period under review, imports reached the maximum at $3.7M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Top Suppliers of Watch Movements; Complete and Assembled to Canada in 2022:

1. Switzerland (39.4K units)
2. Thailand (25.1K units)
3. Japan (22.9K units)
4. China (15.0K units)
5. United States (3.5K units)
6. Malaysia (1.8K units)
7. Hong Kong SAR (0.7K units)

Exports of Watch Movements; Complete and Assembled in Canada

In 2022, overseas shipments of watch movements; complete and assembleds decreased by -35% to 3K units, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 246%. As a result, the exports reached the peak of 13K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, watch movements; complete and assembled exports stood at $485K in 2022. Over the period under review, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 82%. As a result, the exports reached the peak of $1.2M. From 2021 to 2022, the growth of the exports failed to regain momentum.

Top Export Markets for Watch Movements; Complete and Assembled from Canada in 2022:

1. United States (1652.0 units)
2. Germany (1172.0 units)
3. Lebanon (137.0 units)
4. China (53.0 units)

Source: IndexBox Market Intelligence Platform