Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in China - 2023

Contents:

1. Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in China (CIF) - 2022
2. Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in China (FOB) - 2022
3. Imports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in China
4. Exports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in China

Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in China (CIF) - 2022

The average import price for watches; complete movements, unassembled or partly assembled (movement sets) stood at $1.8 per unit in 2022, waning by -10.7% against the previous year. Over the period under review, the import price saw a noticeable downturn. The pace of growth was the most pronounced in 2014 an increase of 272%. Over the period under review, average import prices hit record highs at $12 per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 ($1.9 per unit), while the price for Switzerland ($0.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.2%), while the prices for the other major suppliers experienced a decline.

Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in China (FOB) - 2022

The average export price for watches; complete movements, unassembled or partly assembled (movement sets) stood at $1 per unit in 2022, reducing by -57.6% against the previous year. In general, the export price showed a abrupt shrinkage. The growth pace was the most rapid in 2018 an increase of 262% against the previous year. The export price peaked at $11 per unit in 2019; however, from 2020 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 Hong Kong SAR ($16 per unit), while the average price for exports to Cambodia ($0.1 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 Japan (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in China

Imports of watches; complete movements, unassembled or partly assembled (movement sets) into China contracted notably to 4.1M units in 2022, waning by -57.5% against 2021. Over the period under review, imports, however, posted a pronounced expansion. The pace of growth appeared the most rapid in 2021 with an increase of 386%. As a result, imports attained the peak of 9.6M units, and then reduced markedly in the following year.

In value terms, imports of watches; complete movements, unassembled or partly assembled (movement sets) reduced sharply to $7.3M in 2022. In general, imports recorded a precipitous setback. The most prominent rate of growth was recorded in 2021 when imports increased by 243%. As a result, imports reached the peak of $19M, and then fell markedly in the following year.

Top Suppliers of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) to China in 2022:

1. Japan (3.4M units)
2. Hong Kong SAR (0.5M units)
3. Singapore (0.1M units)

Exports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in China

For the fourth consecutive year, China recorded growth in overseas shipments of watches; complete movements, unassembled or partly assembled (movement sets), which increased by 209% to 4.4M units in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of watches; complete movements, unassembled or partly assembled (movement sets) skyrocketed to $4.2M in 2022. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +14.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) from China in 2022:

1. Bangladesh (1168.0K units)
2. India (1088.4K units)
3. Saudi Arabia (400.0K units)
4. Japan (384.6K units)
5. Vietnam (345.1K units)
6. Cambodia (209.1K units)
7. Pakistan (205.5K units)
8. Turkey (53.0K units)

Source: IndexBox Market Intelligence Platform