Price for Watch Movements; Complete and Assembled in Thailand - 2023
Contents:
- Price for Watch Movements; Complete and Assembled in Thailand (CIF) - 2023
- Price for Watch Movements; Complete and Assembled in Thailand (FOB) - 2022
- Imports of Watch Movements; Complete and Assembled in Thailand
- Exports of Watch Movements; Complete and Assembled in Thailand
Price for Watch Movements; Complete and Assembled in Thailand (CIF) - 2023
The average import price for watch movements; complete and assembleds stood at $12.8 per unit in September 2023, surging by 11% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.6%. The growth pace was the most rapid in May 2023 an increase of 19% against the previous month. Over the period under review, average import prices reached the maximum at $13.8 per unit in January 2023; however, from February 2023 to September 2023, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Japan.
From September 2022 to September 2023, the rate of growth in terms of prices for Japan amounted to +1.4% per month.
Price for Watch Movements; Complete and Assembled in Thailand (FOB) - 2022
The average export price for watch movements; complete and assembleds stood at $16 per unit in 2022, with an increase of 29% against the previous year. Over the period under review, the export price posted a resilient expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 118% against the previous year. The export price peaked at $23 per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($42 per unit), while the average price for exports to Hong Kong SAR stood at $15 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+9.1%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Watch Movements; Complete and Assembled in Thailand
In 2022, after two years of decline, there was significant growth in purchases abroad of watch movements; complete and assembleds, when their volume increased by 30% to 1.3M units. Over the period under review, imports, however, showed a abrupt setback. Imports peaked at 1.5M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, watch movements; complete and assembled imports soared to $16M in 2022. In general, imports, however, saw a noticeable decline. Imports peaked at $17M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Watch Movements; Complete and Assembled in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 16.3 | 11.3 | 12.1 | 15.1 | -2.5% |
| Others | 0.3 | 0.3 | 0.3 | 0.5 | 18.6% |
| Total | 16.6 | 11.7 | 12.4 | 15.6 | -2.0% |
Top Suppliers of Watch Movements; Complete and Assembled to Thailand in 2022:
- Japan (1301.8K units)
Exports of Watch Movements; Complete and Assembled in Thailand
Watch movements; complete and assembled exports from Thailand dropped rapidly to 17K units in 2022, with a decrease of -22.3% on 2021 figures. Overall, exports recorded a dramatic curtailment. The pace of growth was the most pronounced in 2021 with an increase of 317% against the previous year. Over the period under review, the exports reached the peak figure at 42K 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 fell slightly to $261K in 2022. In general, exports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2021 with an increase of 397%. As a result, the exports reached the peak of $262K, leveling off in the following year.
| Export of Watch Movements; Complete and Assembled in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | N/A | 0.1 | 136 | 232 | 4716.6% |
| Lao People's Democratic Republic | 0.4 | N/A | 0.1 | 23.5 | 288.7% |
| Singapore | N/A | 46.3 | 123 | 0.4 | -90.7% |
| Japan | 128 | N/A | N/A | N/A | 0% |
| Germany | 66.0 | 2.5 | N/A | N/A | -96.2% |
| Others | 49.0 | 3.7 | 2.6 | 5.7 | -51.2% |
| Total | 243 | 52.6 | 262 | 261 | 2.4% |
Top Export Markets for Watch Movements; Complete and Assembled from Thailand in 2022:
- Singapore (undefinedK units)
- Hong Kong SAR (16.0K units)
- Lao People's Democratic Republic (0.6K units)
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