Price for Watch Movements; Complete and Assembled in Japan - 2023
Contents:
- Price for Watch Movements; Complete and Assembled in Japan (FOB) - 2023
- Price for Watch Movements; Complete and Assembled in Japan (CIF) - 2023
- Exports of Watch Movements; Complete and Assembled in Japan
- Imports of Watch Movements; Complete and Assembled in Japan
Price for Watch Movements; Complete and Assembled in Japan (FOB) - 2023
The average export price for watch movements; complete and assembleds stood at $2.1 per unit in July 2023, growing by 9.6% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.8%. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 29% against the previous month. As a result, the export price reached the peak level of $2.3 per unit. From January 2023 to July 2023, the the average export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Thailand ($10.0 per unit), while the average price for exports to India ($1.1 per unit) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Watch Movements; Complete and Assembled in Japan (CIF) - 2023
The average import price for watch movements; complete and assembleds stood at $127 per unit in July 2023, jumping by 44% against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 45% against the previous month. Over the period under review, average import prices reached the peak figure at $133 per unit in July 2022; however, from August 2022 to July 2023, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Switzerland.
From July 2022 to July 2023, the rate of growth in terms of prices for Switzerland amounted to +0.9% per month.
Exports of Watch Movements; Complete and Assembled in Japan
Watch movements; complete and assembled exports from Japan reduced to 195M units in 2022, approximately equating 2021. Overall, exports showed a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by 38% against the previous year. The exports peaked at 256M units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, watch movements; complete and assembled exports contracted to $346M in 2022. Over the period under review, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 33%. The exports peaked at $496M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Watch Movements; Complete and Assembled in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 416 | 248 | 335 | 281 | -12.3% |
| China | 43.7 | 25.5 | 20.0 | 23.3 | -18.9% |
| India | 5.8 | 3.5 | 8.2 | 7.6 | 9.4% |
| Brazil | 6.2 | 2.5 | 4.2 | 3.7 | -15.8% |
| Others | 24.5 | 18.3 | 28.6 | 30.7 | 7.8% |
| Total | 496 | 298 | 396 | 346 | -11.3% |
Top Export Markets for Watch Movements; Complete and Assembled from Japan in 2022:
- Hong Kong SAR (176.8M units)
- India (6.5M units)
- China (5.5M units)
- Brazil (3.3M units)
Imports of Watch Movements; Complete and Assembled in Japan
Watch movements; complete and assembled imports into Japan declined notably to 476K units in 2022, which is down by -51.2% compared with the previous year. Over the period under review, imports faced a sharp descent. The pace of growth appeared the most rapid in 2021 with an increase of 36%. Imports peaked at 1.8M units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, watch movements; complete and assembled imports contracted significantly to $33M in 2022. Overall, imports showed a deep setback. The most prominent rate of growth was recorded in 2021 when imports increased by 8.9% against the previous year. Imports peaked at $62M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Watch Movements; Complete and Assembled in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 17.2 | 17.3 | 17.1 | 15.5 | -3.4% |
| Malaysia | 12.3 | 12.4 | 9.2 | 14.1 | 4.7% |
| China | 32.2 | 12.9 | 20.0 | 3.7 | -51.4% |
| Others | 0.3 | 0.2 | 0.2 | 0.2 | -12.6% |
| Total | 61.9 | 42.8 | 46.6 | 33.5 | -18.5% |
Top Suppliers of Watch Movements; Complete and Assembled to Japan in 2022:
- Switzerland (288.1K units)
- China (103.3K units)
- Malaysia (78.3K units)
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