Hong Kong SAR, China - Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWatch Price in Hong Kong SAR - 2023
Contents:
- Watch Price in Hong Kong SAR (CIF) - 2023
- Watch Price in Hong Kong SAR (FOB) - 2023
- Watch Imports in Hong Kong SAR
- Watch Exports in Hong Kong SAR
Watch Price in Hong Kong SAR (CIF) - 2023
The average watch import price stood at $106 per unit in June 2023, picking up by 13% against the previous month. In general, the import price posted a noticeable expansion. The pace of growth was the most pronounced in February 2023 an increase of 52% month-to-month. As a result, import price reached the peak level of $172 per unit. From March 2023 to June 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Thailand ($73.2 per unit), while the price for China stood at $15.2 per unit.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+1.7%).
Watch Price in Hong Kong SAR (FOB) - 2023
The average watch export price stood at $46.0 per unit in June 2023, remaining stable against the previous month. In general, export price indicated a measured increase from June 2022 to June 2023: its price increased at an average monthly rate of +2.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, watch export price decreased by -25.0% against February 2023 indices. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 35% against the previous month. As a result, the export price reached the peak level of $61.3 per unit. From March 2023 to June 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was China ($248 per unit), while the average price for exports to Turkey ($10.4 per unit) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.
Watch Imports in Hong Kong SAR
Watch imports into Hong Kong SAR dropped rapidly to 85M units in 2022, with a decrease of -23.7% against the previous year. Overall, imports continue to indicate a deep setback. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. Over the period under review, imports attained the peak figure at 157M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, watch imports fell markedly to $4.7B in 2022. Over the period under review, imports saw a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 37% against the previous year. As a result, imports reached the peak of $6.9B, and then declined significantly in the following year.
| Import of Watch in Hong Kong SAR (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 2.8 | 1.8 | 2.5 | 2.1 | -9.1% |
| China | 1.5 | 0.9 | 1.1 | 0.9 | -15.7% |
| Japan | 0.2 | 0.3 | 0.7 | 0.8 | 58.7% |
| Thailand | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Others | 1.7 | 1.9 | 2.5 | 0.8 | -22.2% |
| Total | 6.2 | 5.1 | 6.9 | 4.7 | -8.8% |
Top Suppliers of Watch to Hong Kong SAR in 2022:
- China (74.6M units)
- Thailand (2.5M units)
- Switzerland (2.1M units)
- Japan (1.5M units)
Watch Exports in Hong Kong SAR
Watch exports from Hong Kong SAR shrank significantly to 136M units in 2022, with a decrease of -15.4% against the year before. Over the period under review, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 16% against the previous year. The exports peaked at 199M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, watch exports contracted to $5.2B in 2022. In general, exports continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 32% against the previous year. As a result, the exports attained the peak of $5.8B, and then declined in the following year.
| Export of Watch in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,088 | 782 | 1,153 | 1,073 | -0.5% |
| China | 560 | 846 | 1,015 | 586 | 1.5% |
| Japan | 420 | 392 | 306 | 306 | -10.0% |
| Germany | 284 | 188 | 231 | 230 | -6.8% |
| Philippines | 92.1 | 184 | 239 | 221 | 33.9% |
| United Arab Emirates | 3.6 | 9.1 | 1.9 | 167 | 259.3% |
| Italy | 105 | 81.2 | 95.3 | 120 | 4.6% |
| United Kingdom | 130 | 79.6 | 91.5 | 120 | -2.6% |
| Spain | 75.1 | 30.0 | 79.8 | 97.5 | 9.1% |
| Netherlands | 90.1 | 91.7 | 99.5 | 88.8 | -0.5% |
| India | 76.2 | 32.7 | 56.5 | 71.3 | -2.2% |
| Indonesia | 126 | 40.2 | 29.3 | 59.0 | -22.3% |
| Turkey | 46.2 | 27.2 | 38.2 | 47.8 | 1.1% |
| Others | 2,565 | 1,594 | 2,330 | 1,994 | -8.1% |
| Total | 5,661 | 4,378 | 5,767 | 5,181 | -2.9% |
Top Export Markets for Watch from Hong Kong SAR in 2022:
- United States (31.7M units)
- Philippines (19.8M units)
- Germany (8.8M units)
- Japan (7.3M units)
- Indonesia (5.1M units)
- United Kingdom (5.1M units)
- China (4.9M units)
- Netherlands (4.2M units)
- Spain (3.8M units)
- United Arab Emirates (3.4M units)
- India (3.3M units)
- Turkey (3.1M units)
- Italy (3.1M units)
This report provides an in-depth analysis of the watch market in Hong Kong SAR, China. 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:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- 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
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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
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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
348
This report provides an in-depth analysis of the watch market in Hong Kong SAR, China.
81
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During the review period, Watch imports peaked at 7.6M units in August 2023 but decreased slightly from September to November. In terms of value, watch imports increased to $612M in November 2023.
126
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