Armenia: Watch Market 2020

Watch Market Size in Armenia

The revenue of the watch market in Armenia amounted to $X in 2018, going up by X% against the previous year. Over the period under review, watch consumption continues to indicate a strong expansion. The pace of growth was the most pronounced in 2008 when the market value increased by X% y-o-y. Over the period under review, the watch market attained its peak figure level in 2018 and is expected to retain its growth in the immediate term.

Watch Production in Armenia

In value terms, watch production amounted to $X in 2018 estimated in export prices. In general, watch production continues to indicate moderate growth. The growth pace was the most rapid in 2011 with an increase of X% year-to-year. Over the period under review, watch production reached its peak figure level at $X in 2017, and then declined slightly in the following year.

Watch Exports

Exports from Armenia

In 2018, approx. X units of watches were exported from Armenia; going down by -X% against the previous year. Over the period under review, watch exports continue to indicate a drastic slump. The most prominent rate of growth was recorded in 2013 when exports increased by X% y-o-y. Armenia exports peaked at X units in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, watch exports stood at $X in 2018. Over the period under review, watch exports continue to indicate mild growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. In that year, watch exports reached their peak and are likely to continue its growth in the immediate term.

Exports by Country

China, Hong Kong SAR prevails in watch exports structure, finishing at X units, which was near X% of total exports in 2018. Switzerland (X units) ranks second in terms of the total exports with a X% share, followed by Germany (X%). The following exporters - China (X units), the U.S. (X units), Singapore (X units), Thailand (X units), the UK (X units) and the Netherlands (X units) - together made up X% of total exports.

From 2007 to 2018, average annual rates of growth with regard to watch exports from China, Hong Kong SAR stood at +X%. At the same time, the UK (+X%), the Netherlands (+X%), Germany (+X%), the U.S. (+X%) and Singapore (+X%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Switzerland experienced a relatively flat trend pattern. By contrast, Thailand (-X%) and China (-X%) illustrated a downward trend over the same period. While the share of China, Hong Kong SAR (+X p.p.) and Germany (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of Thailand (-X p.p.) and China (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Switzerland ($X) remains the largest watch supplier from Armenia, comprising X% of global exports. The second position in the ranking was occupied by China, Hong Kong SAR ($X), with a X% share of global exports. It was followed by China, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Switzerland stood at +X%. The remaining exporting countries recorded the following average annual rates of exports growth: China, Hong Kong SAR (+X% per year) and China (+X% per year).

Export Prices by Country

The watch export price in Armenia stood at $X per unit in 2018, jumping by X% against the previous year. In general, the watch export price continues to indicate an extraordinary increase. The growth pace was the most rapid in 2018 when the export price increased by X% year-to-year. In that year, the export prices for watches reached their peak level and is likely to continue its growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was Switzerland ($X per unit), while China, Hong Kong SAR ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Watch Imports

Imports into Armenia

In 2018, approx. X units of watches were imported into Armenia; jumping by X% against the previous year. Over the period under review, watch imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2010 with an increase of X% year-to-year. Armenia imports peaked at X units in 2014; however, from 2015 to 2018, imports remained at a lower figure.

In value terms, watch imports stood at $X in 2018. In general, watch imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2015 when imports increased by X% y-o-y. Armenia imports peaked in 2018 and are likely to see steady growth in the immediate term.

Imports by Country

In 2018, China, Hong Kong SAR (X units) was the key importer of watches, creating X% of total imports. The U.S. (X units) took an X% share (based on tons) of total imports, which put it in second place, followed by India (X%), Germany (X%) and Japan (X%). The UK (X units), Colombia (X units), the Netherlands (X units), Mexico (X units), Italy (X units) and France (X units) followed a long way behind the leaders.

Imports into China, Hong Kong SAR decreased at an average annual rate of -X% from 2007 to 2018. At the same time, India (+X%), Colombia (+X%) and the Netherlands (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Germany (-X%), Japan (-X%), the UK (-X%), Mexico (-X%), Italy (-X%), France (-X%) and the U.S. (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of India and Colombia increased by +X% and +X% percentage points, while Mexico (-X p.p.), Italy (-X p.p.), Germany (-X p.p.), the UK (-X p.p.), France (-X p.p.), China, Hong Kong SAR (-X p.p.) and the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China, Hong Kong SAR ($X), the U.S. ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2018, together comprising X% of total imports. These countries were followed by Japan, Germany, the UK, Italy, the Netherlands, India, Mexico, Colombia and Armenia, which together accounted for a further X experienced the highest growth rate of imports, among the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The watch import price in Armenia stood at $X per unit in 2018, approximately reflecting the previous year. Overall, the watch import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the import price increased by X% against the previous year. Armenia import price peaked at $X per unit in 2017, leveling off in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was France ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform