South Africa - Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWatch Price in South Africa - 2023
Contents:
- Watch Price in South Africa (CIF) - 2023
- Watch Price in South Africa (FOB) - 2022
- Watch Imports in South Africa
- Watch Exports in South Africa
Watch Price in South Africa (CIF) - 2023
In July 2023, the average watch import price amounted to $6.9 per unit, growing by 37% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 97% month-to-month. Over the period under review, average import prices reached the maximum at $8.6 per unit in October 2022; however, from November 2022 to July 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Hong Kong SAR ($8.7 per unit), while the price for China totaled $1.9 per unit.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.4%).
Watch Price in South Africa (FOB) - 2022
The average watch export price stood at $77 per unit in 2022, waning by -7.3% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average export price increased by 78% against the previous year. Over the period under review, the average export prices reached the peak figure at $115 per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($1,746 per unit), while the average price for exports to Namibia ($14 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 Hong Kong SAR (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.
Watch Imports in South Africa
Watch imports into South Africa was estimated at 5.8M units in 2022, remaining relatively unchanged against the previous year. Over the period under review, imports, however, continue to indicate a slight contraction. The pace of growth was the most pronounced in 2021 when imports increased by 18%. Over the period under review, imports hit record highs at 6.1M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, watch imports amounted to $89M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. Over the period under review, imports reached the peak figure at $91M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
Import of Watch in South Africa (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Switzerland | 48.4 | 28.7 | 42.2 | 49.8 | 1.0% |
China | 29.0 | 22.2 | 27.2 | 30.4 | 1.6% |
Hong Kong SAR | 3.8 | 2.1 | 2.3 | 2.8 | -9.7% |
Others | 9.4 | 5.1 | 6.5 | 5.6 | -15.9% |
Total | 90.5 | 58.0 | 78.3 | 88.7 | -0.7% |
Top Suppliers of Watch to South Africa in 2022:
- China (4.9M units)
- Switzerland (0.5M units)
- Hong Kong SAR (0.2M units)
Watch Exports in South Africa
In 2022, exports of watches from South Africa shrank dramatically to 295K units, waning by -24.8% compared with the previous year's figure. Over the period under review, exports saw a perceptible descent. The pace of growth appeared the most rapid in 2021 when exports increased by 43% against the previous year. As a result, the exports reached the peak of 393K units, and then plummeted in the following year.
In value terms, watch exports fell notably to $23M in 2022. In general, exports saw a mild setback. The pace of growth was the most pronounced in 2021 with an increase of 48%. As a result, the exports attained the peak of $33M, and then fell remarkably in the following year.
Export of Watch in South Africa (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Hong Kong SAR | 12.7 | 13.2 | 21.5 | 11.5 | -3.3% |
Singapore | 0.1 | 0.3 | 1.2 | 2.5 | 192.4% |
Namibia | 1.8 | 1.3 | 1.6 | 1.7 | -1.9% |
United States | 0.8 | 1.1 | 2.0 | 1.0 | 7.7% |
United Kingdom | 1.8 | 1.3 | 0.1 | 0.9 | -20.6% |
Botswana | 0.7 | 0.6 | 0.8 | 0.9 | 8.7% |
Zambia | 0.4 | 0.3 | 0.6 | 0.8 | 26.0% |
Switzerland | 1.8 | 1.6 | 1.9 | 0.5 | -34.8% |
Mauritius | 0.5 | 0.3 | 0.4 | 0.3 | -15.7% |
Swaziland | 0.3 | 0.3 | 0.4 | 0.3 | 0.0% |
Lesotho | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
Nigeria | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
Malawi | N/A | N/A | N/A | 0.1 | 0% |
Others | 2.8 | 1.7 | 2.0 | 1.9 | -12.1% |
Total | 23.9 | 22.1 | 32.7 | 22.8 | -1.6% |
Top Export Markets for Watch from South Africa in 2022:
- Namibia (119.3K units)
- Botswana (51.2K units)
- Swaziland (20.7K units)
- Zambia (19.8K units)
- Singapore (16.4K units)
- Lesotho (10.6K units)
- Nigeria (9.2K units)
- Malawi (7.8K units)
- Hong Kong SAR (6.6K units)
- United States (5.6K units)
- Mauritius (5.3K units)
- United Kingdom (3.5K units)
- Switzerland (2.2K units)
This report provides an in-depth analysis of the watch market in South Africa. 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:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- 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.
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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
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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
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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
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