ASEAN: Market for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal 2022

Market Size for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in ASEAN

The ASEAN market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals surged to $X in 2021, jumping by 27% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in ASEAN

In value terms, production of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production showed a resilient expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 582,110%. As a result, production reached the peak level of $X. From 2017 to 2021, production of growth remained at a somewhat lower figure.

Exports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Exports in ASEAN

In 2021, overseas shipments of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed a relatively flat trend pattern. Over the period under review, the exports of attained the peak figure at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals surged to $X in 2021. Total exports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Singapore (X units), distantly followed by Indonesia (X units), Malaysia (X units), Vietnam (X units) and Thailand (X units) were the key exporters of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals, together generating 99% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +48.6%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal supplier in ASEAN, comprising 90% of total exports. The second position in the ranking was held by Malaysia ($X), with a 6.2% share of total exports. It was followed by Thailand, with a 2.5% share.

In Singapore, exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals increased at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+17.6% per year) and Thailand (+7.3% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, picking up by 4.7% against the previous year. Overall, the export price enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2019 an increase of 111%. Over the period under review, the export prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+22.4%), while the other leaders experienced more modest paces of growth.

Imports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Imports in ASEAN

In 2021, the amount of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals imported in ASEAN surged to X units, increasing by 38% against the year before. Overall, imports, however, saw a noticeable slump. Over the period under review, imports of hit record highs at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam represented the main importing country with an import of about X units, which reached 45% of total imports. Singapore (X units) took the second position in the ranking, distantly followed by Malaysia (X units) and Thailand (X units). All these countries together took near 51% share of total imports. Lao People's Democratic Republic (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Lao People's Democratic Republic (with a CAGR of +82.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals in ASEAN, comprising 73% of total imports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total imports. It was followed by Thailand, with a 9.5% share.

In Singapore, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals increased at an average annual rate of +1.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (-2.2% per year) and Thailand (-4.7% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, declining by -12.2% against the previous year. Import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals decreased by -37.0% against 2019 indices. The growth pace was the most rapid in 2019 when the import price increased by 46% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per unit), while Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+21.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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