Asia-Pacific: 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 Asia-Pacific

In 2021, the Asia-Pacific market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 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 Asia-Pacific

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 skyrocketed to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a 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 Asia-Pacific

In 2021, approx. X units of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals were exported in Asia-Pacific; rising by 93% against 2020. Overall, exports continue to indicate a remarkable increase. The volume of export peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

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. The total export value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X units) and China (X units) prevails in metals structure, together comprising 71% of total exports. Singapore (X units) took a 7.4% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (4.9%) and Malaysia (4.5%). The following exporters - Hong Kong SAR (X units) and Macao SAR (X units) - each amounted to a 6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Macao SAR (with a CAGR of +59.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal supplying countries in Asia-Pacific were Hong Kong SAR ($X), Singapore ($X) and China ($X), with a combined 83% share of total exports.

Among the main exporting countries, China, with a CAGR of +38.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, reducing by -29.1% against the previous year. Overall, the export price continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2019 when the export price increased by 152%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+17.7%), 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 Asia-Pacific

Imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals rose markedly to X units in 2021, increasing by 14% against 2020. In general, imports, however, recorded a abrupt curtailment. The volume of import peaked at X units in 2013; however, from 2014 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. Overall, imports saw a mild increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea was the key importer of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals in Asia-Pacific, with the volume of imports recording X units, which was near 54% of total imports in 2021. Vietnam (X units) held the second position in the ranking, followed by India (X units), Singapore (X units) and Taiwan (Chinese) (X units). All these countries together held near 32% share of total imports. Malaysia (X units) and Thailand (X units) took a minor share of total imports.

Imports into South Korea decreased at an average annual rate of -9.1% from 2012 to 2021. At the same time, Vietnam (+61.1%) and India (+8.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +61.1% from 2012-2021. Thailand and Singapore experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-8.0%) and Malaysia (-19.4%) illustrated a downward trend over the same period. While the share of Vietnam (+11 p.p.), India (+5.7 p.p.) and Singapore (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Malaysia (-9.1 p.p.) and South Korea (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals in Asia-Pacific, comprising 12% of total imports. The second position in the ranking was taken by South Korea ($X), with a 3.2% share of total imports. It was followed by Taiwan (Chinese), with a 2.2% 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: South Korea (+6.7% per year) and Taiwan (Chinese) (-1.2% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, increasing by 27% against the previous year. In general, the import price saw resilient growth. The most prominent rate of growth was recorded in 2014 when the import price increased by 48%. Over the period under review, import prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while Vietnam ($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 more modest paces of growth.

Source: IndexBox Platform

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