Price for Watch Movements; Complete and Assembled in the Philippines - 2023
Contents:
- Price for Watch Movements; Complete and Assembled in the Philippines (CIF) - 2022
- Price for Watch Movements; Complete and Assembled in the Philippines (FOB) - 2022
- Imports of Watch Movements; Complete and Assembled in the Philippines
- Exports of Watch Movements; Complete and Assembled in the Philippines
Price for Watch Movements; Complete and Assembled in the Philippines (CIF) - 2022
In 2022, the average import price for watch movements; complete and assembleds amounted to $33 per unit, which is down by -65.7% against the previous year. Overall, the import price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 883%. As a result, import price reached the peak level of $96 per unit, and then reduced sharply in the following year.
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 Japan ($185 per unit), while the price for China ($5.9 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+35.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Watch Movements; Complete and Assembled in the Philippines (FOB) - 2022
In 2022, the average export price for watch movements; complete and assembleds amounted to $6.6 per unit, shrinking by -26.3% against the previous year. In general, the export price showed a deep reduction. The pace of growth was the most pronounced in 2021 an increase of 56%. The export price peaked at $14 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($14 per unit), while the average price for exports to Hong Kong SAR ($5.3 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 Indonesia (+10.0%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Watch Movements; Complete and Assembled in the Philippines
In 2022, the amount of watch movements; complete and assembleds imported into the Philippines soared to 173K units, jumping by 355% compared with 2021 figures. In general, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, watch movements; complete and assembled imports soared to $5.7M in 2022. Overall, imports posted a strong expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 2,169%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Watch Movements; Complete and Assembled in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 2,909 | 60.2 | 2,567 | 3,026 | 1.3% |
| Switzerland | 42.5 | 34.4 | 364 | 963 | 183.0% |
| Hong Kong SAR | 35.3 | 0.5 | 638 | 842 | 187.9% |
| China | 464 | 56.3 | 56.4 | 834 | 21.6% |
| United States | 5.6 | 5.9 | 16.0 | 8.6 | 15.4% |
| Others | 1.5 | 3.5 | 3.5 | 5.6 | 55.1% |
| Total | 3,457 | 161 | 3,645 | 5,681 | 18.0% |
Top Suppliers of Watch Movements; Complete and Assembled to the Philippines in 2022:
- China (140.3K units)
- Japan (16.3K units)
- Switzerland (10.0K units)
- Hong Kong SAR (4.9K units)
- United States (1.2K units)
Exports of Watch Movements; Complete and Assembled in the Philippines
In 2022, the amount of watch movements; complete and assembleds exported from the Philippines amounted to 153K units, with an increase of 11% compared with 2021 figures. Overall, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 331% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, watch movements; complete and assembled exports dropped sharply to $1M in 2022. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 571%. As a result, the exports attained the peak of $1.2M, and then shrank dramatically in the following year.
| Export of Watch Movements; Complete and Assembled in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 32.3 | 8.8 | 51.4 | 476 | 145.2% |
| Switzerland | 75.2 | 150 | 1,101 | 311 | 60.5% |
| Singapore | N/A | N/A | N/A | 215 | 0% |
| India | 22.1 | 11.9 | 75.5 | 2.8 | -49.8% |
| Others | 72.9 | 14.2 | 14.7 | 11.8 | -45.5% |
| Total | 202 | 185 | 1,243 | 1,015 | 71.3% |
Top Export Markets for Watch Movements; Complete and Assembled from the Philippines in 2022:
- Hong Kong SAR (89.5K units)
- Singapore (34.1K units)
- Switzerland (27.7K units)
- India (0.5K units)
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This report provides an in-depth analysis of the assembled watch movements market in the Philippines.
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Global Assembled Watch Movements Market Report 2018. This report provides an in-depth analysis of the global assembled watch movements market.
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This report provides an in-depth analysis of the assembled watch movements market in the Philippines.
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Global Assembled Watch Movements Market Report 2018. This report provides an in-depth analysis of the global assembled watch movements market.
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