Price for Watch Movements; Complete and Assembled in the UK - 2023
Contents:
- Price for Watch Movements; Complete and Assembled in the UK (FOB) - 2022
- Price for Watch Movements; Complete and Assembled in the UK (CIF) - 2022
- Exports of Watch Movements; Complete and Assembled in the UK
- Imports of Watch Movements; Complete and Assembled in the UK
Price for Watch Movements; Complete and Assembled in the UK (FOB) - 2022
In 2022, the average export price for watch movements; complete and assembleds amounted to $225 per unit, growing by 18% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 48% against the previous year. Over the period under review, the average export prices attained the peak figure at $235 per unit in 2013; however, from 2014 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 Macao SAR ($2,171 per unit), while the average price for exports to France ($9.9 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 Macao SAR (+305.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Watch Movements; Complete and Assembled in the UK (CIF) - 2022
In 2022, the average import price for watch movements; complete and assembleds amounted to $55 per unit, growing by 8.9% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, watch movements; complete and assembled import price increased by +69.4% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 79% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($203 per unit), while the price for Hong Kong SAR ($5.6 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Watch Movements; Complete and Assembled in the UK
In 2022, after three years of growth, there was significant decline in overseas shipments of watch movements; complete and assembleds, when their volume decreased by -20% to 228K units. Over the period under review, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 92% against the previous year. The exports peaked at 285K units in 2021, and then shrank significantly in the following year.
In value terms, watch movements; complete and assembled exports dropped to $51M in 2022. In general, exports, however, showed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 114%. As a result, the exports reached the peak of $54M, and then declined in the following year.
| Export of Watch Movements; Complete and Assembled in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 5.4 | 15.6 | 37.5 | 30.0 | 77.1% |
| Macao SAR | 0.1 | 2.1 | 6.0 | 10.8 | 376.2% |
| Netherlands | 3.2 | 2.4 | 4.4 | 4.1 | 8.6% |
| Switzerland | 1.7 | 2.8 | 1.9 | 2.0 | 5.6% |
| Germany | 0.2 | N/A | 0.2 | 0.4 | 26.0% |
| Australia | 1.7 | 0.1 | 0.5 | 0.2 | -51.0% |
| Italy | N/A | N/A | 0.1 | 0.1 | 0.0% |
| France | N/A | N/A | 0.3 | 0.1 | -66.7% |
| Belgium | N/A | N/A | N/A | 0.1 | 0% |
| Others | 0.9 | 2.3 | 3.5 | 3.5 | 57.3% |
| Total | 13.3 | 25.4 | 54.5 | 51.3 | 56.8% |
Top Export Markets for Watch Movements; Complete and Assembled from the UK in 2022:
- Hong Kong SAR (104.3K units)
- Netherlands (30.1K units)
- Germany (24.4K units)
- France (15.1K units)
- Switzerland (13.4K units)
- Italy (5.5K units)
- Macao SAR (5.0K units)
- Belgium (4.8K units)
- Australia (0.8K units)
Imports of Watch Movements; Complete and Assembled in the UK
In 2022, approx. 327K units of watch movements; complete and assembleds were imported into the UK; surging by 14% compared with 2021 figures. In general, imports, however, showed a noticeable reduction. Imports peaked at 356K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, watch movements; complete and assembled imports surged to $18M in 2022. The total import value increased at an average annual rate of +4.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Watch Movements; Complete and Assembled in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 10.0 | 7.9 | 9.5 | 15.3 | 15.2% |
| China | 0.4 | 0.3 | 0.4 | 0.8 | 26.0% |
| Japan | 0.5 | 0.4 | 0.4 | 0.5 | 0.0% |
| Hong Kong SAR | 0.3 | 0.4 | 0.4 | 0.4 | 10.1% |
| Netherlands | 3.4 | 2.2 | 2.7 | 0.2 | -61.1% |
| Italy | N/A | N/A | N/A | 0.2 | 0% |
| Thailand | 0.2 | 0.1 | 0.1 | 0.1 | -20.6% |
| Others | 0.8 | 0.5 | 0.9 | 0.4 | -20.6% |
| Total | 15.4 | 11.9 | 14.4 | 17.8 | 4.9% |
Top Suppliers of Watch Movements; Complete and Assembled to the UK in 2022:
- Switzerland (93.2K units)
- Hong Kong SAR (76.4K units)
- China (60.1K units)
- Japan (54.5K units)
- Thailand (19.5K units)
- Italy (10.0K units)
- Netherlands (0.9K units)
271
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This report provides an in-depth analysis of the assembled watch movements market in the UK.
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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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