Price for Watches; Incomplete Movements, Assembled in Malaysia - 2021

Price for Watches; Incomplete Movements, Assembled in Malaysia (FOB) - 2022

In 2022, the average watches; incomplete movements, assembled export price amounted to $833 per unit, dropping by -8.5% against the previous year. Overall, the export price recorded a noticeable slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 91% against the previous year. As a result, the export price attained the peak level of $2,364 per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($1,813 per unit), while the average price for exports to Taiwan (Chinese) ($30 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 Singapore (+6.7%), while the prices for the other major destinations experienced a decline.

Price for Watches; Incomplete Movements, Assembled in Malaysia (CIF) - 2021

In December 2021, the average watches; incomplete movements, assembled import price amounted to $1,259 per unit, waning by -6.3% against the previous month. In general, the import price recorded a noticeable decrease. The growth pace was the most rapid in February 2021 when the average import price increased by 104% month-to-month. The import price peaked at $1,683 per unit in December 2020; afterwards, it flattened through to December 2021.

As there is only one major supplying country, the average price level is determined by prices for Singapore.

From December 2020 to December 2021, the rate of growth in terms of prices for Singapore amounted to -2.4% per month.

Exports of Watches; Incomplete Movements, Assembled in Malaysia

In 2022, approx. 35K units of watches; incomplete movements, assembleds were exported from Malaysia; shrinking by -12.9% compared with 2021. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 132%. Over the period under review, the exports reached the peak figure at 43K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, watches; incomplete movements, assembled exports contracted notably to $29M in 2022. Overall, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 68% against the previous year. The exports peaked at $40M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Watches; Incomplete Movements, Assembled in Malaysia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	3.4	9.0	21.7	14.8	63.3%
Singapore	31.4	10.9	12.8	12.2	-27.0%
Hong Kong SAR	4.8	1.4	0.1	1.4	-33.7%
China	0.2	0.3	0.8	0.5	35.7%
Macao SAR	N/A	N/A	0.8	N/A	0%
Taiwan (Chinese)	N/A	N/A	N/A	N/A	0%
Others	N/A	0.1	0.3	0.2	41.4%
Total	39.8	21.7	36.5	29.1	-9.9%

Top Export Markets for Watches; Incomplete Movements, Assembled from Malaysia in 2022:

Japan (14.3K units)
Hong Kong SAR (12.3K units)
Singapore (6.7K units)
Taiwan (Chinese) (0.6K units)
China (0.6K units)

Imports of Watches; Incomplete Movements, Assembled in Malaysia

After two years of decline, overseas purchases of watches; incomplete movements, assembleds increased by 2% to 14K units in 2022. Over the period under review, imports, however, continue to indicate a sharp slump. Imports peaked at 31K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, watches; incomplete movements, assembled imports fell to $15M in 2022. Overall, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Imports peaked at $24M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.