Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR - 2023
Contents:
- Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR (CIF) - 2022
- Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR (FOB) - 2023
- Imports of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR
- Exports of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR
Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR (CIF) - 2022
The average import price for wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings stood at $805 per unit in 2022, jumping by 18% against the previous year. In general, the import price saw a resilient increase. The pace of growth was the most pronounced in 2017 an increase of 31% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($1,691 per unit), while the price for Thailand ($111 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+31.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR (FOB) - 2023
In November 2023, the average export price for wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings amounted to $310 per unit, with a decrease of -8.7% against the previous month. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 when the average export price increased by 49% m-o-m. As a result, the export price reached the peak level of $525 per unit. From March 2023 to November 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In November 2023, the country with the highest price was China ($848 per unit), while the average price for exports to Panama ($55.8 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR
In 2022, approx. 2.4M units of wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings were imported into Hong Kong SAR; with a decrease of -23.7% on 2021 figures. Over the period under review, imports recorded a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. As a result, imports reached the peak of 3.2M units, and then plummeted in the following year.
In value terms, imports of wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings shrank to $1.9B in 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 42% against the previous year. As a result, imports reached the peak of $2.2B, and then declined in the following year.
| Import of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 1,237 | 839 | 1,125 | 947 | -8.5% |
| Japan | 56.4 | 66.6 | 242 | 293 | 73.2% |
| Singapore | 56.7 | 91.1 | 136 | 117 | 27.3% |
| United States | 104 | 93.5 | 114 | 89.6 | -4.8% |
| Italy | 97.2 | 68.3 | 94.0 | 60.4 | -14.7% |
| China | 90.2 | 55.9 | 55.1 | 51.9 | -16.8% |
| Thailand | 1.0 | 10.8 | 54.9 | 42.0 | 247.6% |
| Others | 252 | 309 | 350 | 349 | 11.5% |
| Total | 1,895 | 1,534 | 2,171 | 1,950 | 1.0% |
Top Suppliers of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding to Hong Kong SAR in 2022:
- Switzerland (837.5K units)
- Thailand (379.3K units)
- United States (365.3K units)
- Japan (293.0K units)
- Singapore (184.1K units)
- Italy (80.0K units)
- China (30.7K units)
Exports of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR
Exports of wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings from Hong Kong SAR dropped to 4.6M units in 2022, declining by -3.5% on the previous year's figure. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +9.1% 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 +55.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. As a result, the exports reached the peak of 4.7M units, and then shrank modestly in the following year.
In value terms, exports of wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings fell notably to $911M in 2022. In general, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 64% against the previous year. As a result, the exports attained the peak of $1.3B, and then shrank remarkably in the following year.
| Export of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 108 | 80.6 | 377 | 187 | 20.1% |
| United States | 119 | 139 | 260 | 175 | 13.7% |
| China | 126 | 302 | 260 | 136 | 2.6% |
| Japan | 73.7 | 67.3 | 98.8 | 56.9 | -8.3% |
| United Arab Emirates | 1.2 | 0.1 | 0.1 | 40.4 | 222.9% |
| Germany | 11.8 | 15.3 | 22.0 | 33.0 | 40.9% |
| Italy | 13.4 | 16.0 | 25.9 | 23.7 | 20.9% |
| Singapore | 19.1 | 16.0 | 17.4 | 20.5 | 2.4% |
| United Kingdom | 10.2 | 10.2 | 13.1 | 14.6 | 12.7% |
| Netherlands | 5.1 | 6.3 | 6.4 | 10.6 | 27.6% |
| Thailand | 5.4 | 6.1 | 5.3 | 8.0 | 14.0% |
| India | 2.7 | 1.4 | 5.1 | 7.1 | 38.0% |
| Panama | 8.7 | 4.5 | 6.4 | 6.9 | -7.4% |
| Others | 153 | 105 | 162 | 192 | 7.9% |
| Total | 657 | 770 | 1,259 | 911 | 11.5% |
Top Export Markets for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding from Hong Kong SAR in 2022:
- United States (1412.8K units)
- Macao SAR (745.5K units)
- Germany (364.7K units)
- China (279.0K units)
- Netherlands (183.9K units)
- Panama (140.7K units)
- United Kingdom (126.9K units)
- Italy (116.3K units)
- United Arab Emirates (99.7K units)
- Singapore (86.1K units)
- India (84.4K units)
- Thailand (80.2K units)
- Japan (72.1K units)
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