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

Contents:

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

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

In 2022, the average import price for watches; complete movements, unassembled or partly assembled (movement sets) amounted to $1 per unit, with an increase of 12% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for watches; complete movements, unassembled or partly assembled (movement sets) decreased by -20.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 25%. As a result, import price reached the peak level of $1.5 per unit. From 2018 to 2022, the average 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 Hong Kong SAR ($1.5 per unit), while the price for China ($0.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.6%), while the prices for the other major suppliers experienced a decline.

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

In 2022, the average export price for watches; complete movements, unassembled or partly assembled (movement sets) amounted to $20 per unit, growing by 296% against the previous year. Overall, the export price posted a significant expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 998%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($167 per unit), while the average price for exports to the United States ($0.9 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 the United Arab Emirates (+127.6%), 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 India

Imports of watches; complete movements, unassembled or partly assembled (movement sets) into India skyrocketed to 8.9M units in 2022, growing by 66% against 2021 figures. In general, imports showed significant growth. The growth pace was the most rapid in 2021 when imports increased by 133% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of watches; complete movements, unassembled or partly assembled (movement sets) surged to $9M in 2022. Overall, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

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

1. Japan (3.9M units)
2. Hong Kong SAR (3.6M units)
3. China (1.4M units)

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

Exports of watches; complete movements, unassembled or partly assembled (movement sets) from India dropped remarkably to 909 units in 2022, shrinking by -88.7% compared with 2021 figures. Over the period under review, exports recorded a significant curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 667%. Over the period under review, the exports of hit record highs at 157K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of watches; complete movements, unassembled or partly assembled (movement sets) fell remarkably to $18K in 2022. In general, exports recorded a sharp decrease. The pace of growth appeared the most rapid in 2021 when exports increased by 495% against the previous year. The exports peaked at $370K in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

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

1. Hong Kong SAR (693.0 units)
2. United Arab Emirates (96.0 units)
3. Malta (70.0 units)
4. United States (50.0 units)

Source: IndexBox Market Intelligence Platform