Costa Rica - Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWatch Price in Costa Rica - 2021
Contents:
- Watch Price in Costa Rica (CIF) - 2021
- Watch Price in Costa Rica (FOB) - 2022
- Watch Imports in Costa Rica
- Watch Exports in Costa Rica
Watch Price in Costa Rica (CIF) - 2021
The average watch import price stood at $11.0 per unit in March 2020, shrinking by -32% against the previous month. Over the period under review, the import price showed a deep downturn. The most prominent rate of growth was recorded in February 2020 an increase of 32% month-to-month. As a result, import price attained the peak level of $16.1 per unit, and then fell sharply in the following month.
There were significant differences in the average prices amongst the major supplying countries. In March 2020, the country with the highest price was the United States ($32.2 per unit), while the price for Colombia ($1.2 per unit) was amongst the lowest.
From January 2020 to March 2020, the most notable rate of growth in terms of prices was attained by Thailand (+164.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Watch Price in Costa Rica (FOB) - 2022
In 2022, the average watch export price amounted to $37 per unit, rising by 24% against the previous year. In general, the export price, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2020 an increase of 315% against the previous year. As a result, the export price attained the peak level of $227 per unit. From 2021 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 Guatemala ($81 per unit), while the average price for exports to Hong Kong SAR ($6.2 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 Guatemala (+9.9%), while the prices for the other major destinations experienced a decline.
Watch Imports in Costa Rica
After two years of decline, purchases abroad of watches increased by 68% to 643K units in 2022. Overall, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, watch imports amounted to $14M in 2022. In general, imports, however, saw a pronounced decline. Imports peaked at $16M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Watch in Costa Rica (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 4.1 | 6.6 | 7.5 | 7.5 | 22.3% |
| China | 5.2 | 2.4 | 2.4 | 2.4 | -22.7% |
| United States | 2.8 | 3.4 | 1.3 | 1.5 | -18.8% |
| Hong Kong SAR | 0.6 | 1.1 | 0.6 | 0.9 | 14.5% |
| Panama | 1.1 | 0.8 | 0.3 | 0.7 | -14.0% |
| Philippines | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Taiwan (Chinese) | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Others | 2.1 | 1.3 | 0.8 | 1.1 | -19.4% |
| Total | 16.1 | 15.9 | 13.1 | 14.5 | -3.4% |
Top Suppliers of Watch to Costa Rica in 2022:
- China (457.4K units)
- United States (46.7K units)
- Hong Kong SAR (40.9K units)
- Panama (25.9K units)
- Switzerland (13.0K units)
- Philippines (10.5K units)
- Taiwan (Chinese) (10.0K units)
Watch Exports in Costa Rica
In 2022, exports of watches from Costa Rica declined notably to 13K units, which is down by -26.5% against the previous year. Overall, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 812%. As a result, the exports reached the peak of 17K units, and then declined rapidly in the following year.
In value terms, watch exports contracted to $470K in 2022. The total export value increased at an average annual rate of +5.2% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 21% against the previous year. As a result, the exports attained the peak of $515K, and then shrank in the following year.
| Export of Watch in Costa Rica (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 222 | 223 | 414 | 273 | 7.1% |
| Hong Kong SAR | 44.0 | 32.5 | 40.4 | 29.2 | -12.8% |
| Guatemala | 3.5 | 1.2 | 18.0 | 16.3 | 67.0% |
| Panama | 14.2 | 13.1 | 6.6 | 13.2 | -2.4% |
| Spain | 5.4 | 3.3 | 4.9 | 4.3 | -7.3% |
| Nicaragua | 2.9 | 1.3 | 2.7 | 2.7 | -2.4% |
| El Salvador | 3.0 | 0.4 | 2.4 | 2.0 | -12.6% |
| Chile | 4.9 | 0.9 | 0.9 | 0.1 | -72.7% |
| Others | 104 | 150 | 25.9 | 129 | 7.4% |
| Total | 403 | 425 | 515 | 470 | 5.3% |
Top Export Markets for Watch from Costa Rica in 2022:
- Chile (undefinedK units)
- United States (5.2K units)
- Hong Kong SAR (4.7K units)
- Panama (0.9K units)
- Spain (0.4K units)
- Nicaragua (0.3K units)
- El Salvador (0.2K units)
- Guatemala (0.2K units)
This report provides an in-depth analysis of the watch market in Costa Rica. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
- Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
- Costa Rica
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Costa Rica
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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