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

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

In 2022, the average import price for watch movements; complete and assembleds amounted to $17 per unit, declining by -9.3% against the previous year. In general, the import price saw a deep slump. The pace of growth appeared the most rapid in 2013 an increase of 172%. The import price peaked at $119 per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 ($235 per unit), while the price for China ($3.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.4%), while the prices for the other major suppliers experienced a decline.

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

The average export price for watch movements; complete and assembleds stood at $188 per unit in 2022, increasing by 90% against the previous year. Overall, the export price enjoyed moderate growth. Over the period under review, the average export prices attained the peak figure at $234 per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($196 per unit), while the average price for exports to Belgium amounted to $31 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+17.9%).

Imports of Watch Movements; Complete and Assembled in Luxembourg

In 2022, supplies from abroad of watch movements; complete and assembleds decreased by -47.3% to 5.1K units, falling for the second consecutive year after two years of growth. In general, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 312% against the previous year. As a result, imports reached the peak of 14K units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, watch movements; complete and assembled imports shrank sharply to $88K in 2022. Over the period under review, imports saw a mild descent. The growth pace was the most rapid in 2020 with an increase of 147% against the previous year. As a result, imports reached the peak of $226K. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Watch Movements; Complete and Assembled in Luxembourg (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Switzerland	62.2	163	144	61.2	-0.5%
China	8.8	56.4	33.0	14.1	17.0%
France	4.7	0.1	0.1	7.4	16.3%
Others	16.0	7.0	6.8	5.3	-30.8%
Total	91.7	226	184	88.0	-1.4%

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

China (3.9K units)
France (0.9K units)
Switzerland (0.3K units)

Exports of Watch Movements; Complete and Assembled in Luxembourg

In 2022, overseas shipments of watch movements; complete and assembleds decreased by -83.4% to 267 units, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a noticeable shrinkage. The growth pace was the most rapid in 2020 when exports increased by 600% against the previous year. As a result, the exports reached the peak of 2.1K units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, watch movements; complete and assembled exports dropped dramatically to $50K in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 317%. As a result, the exports attained the peak of $213K. From 2021 to 2022, the growth of the exports remained at a lower figure.