Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Thailand - 2024

Contents:

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

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

The average import price for watches; complete movements, unassembled or partly assembled (movement sets) stood at $12 per unit in 2022, dropping by -7.7% against the previous year. Over the period under review, the import price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 an increase of 119%. Over the period under review, average import prices hit record highs at $15 per unit in 2016; however, from 2017 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 Switzerland ($21 per unit), while the price for China ($2.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average export price for watches; complete movements, unassembled or partly assembled (movement sets) stood at $6.8 per unit in 2022, picking up by 13% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for watches; complete movements, unassembled or partly assembled (movement sets) increased by +81.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 61%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($12 per unit), while the average price for exports to Japan ($2.4 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 China (+23.1%), while the prices for the other major destinations experienced mixed trend patterns.

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

In 2022, overseas purchases of watches; complete movements, unassembled or partly assembled (movement sets) decreased by -3.4% to 1M units, falling for the second year in a row after two years of growth. In general, imports, however, showed a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 1,475% against the previous year. As a result, imports attained the peak of 1.1M units. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of watches; complete movements, unassembled or partly assembled (movement sets) declined to $12M in 2022. Over the period under review, imports, however, continue to indicate significant growth. The growth pace was the most rapid in 2020 when imports increased by 1,222%. Imports peaked at $14M in 2021, and then reduced in the following year.

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

1. Japan (1005.9K units)
2. China (13.0K units)
3. Switzerland (4.3K units)

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

In 2022, the amount of watches; complete movements, unassembled or partly assembled (movement sets) exported from Thailand declined notably to 375K units, reducing by -88.9% on the previous year. Overall, exports saw a precipitous decline. The smallest decline of -22.1% was in 2020. The exports peaked at 6M 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) reduced rapidly to $2.6M in 2022. Over the period under review, exports showed a sharp contraction. The most prominent rate of growth was recorded in 2021 with an increase of 17%. The exports peaked at $23M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

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

1. Hong Kong SAR (332.4K units)
2. China (22.6K units)
3. Japan (20.0K units)

Source: IndexBox Market Intelligence Platform