Benelux: Watch Market 2024

Watch Market Size in Benelux

The Benelux watch market was estimated at $X in 2022, picking up by X% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Watch Production in Benelux

In value terms, watch production surged to $X in 2022 estimated in export price. In general, production showed strong growth. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Watch Exports

Exports in Benelux

In 2022, shipments abroad of watches increased by X% to X units, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, watch exports amounted to $X in 2022. Over the period under review, exports saw resilient growth. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, the Netherlands (X units) represented the key exporter of watches, making up X% of total exports. It was distantly followed by Belgium (X units), creating a X% share of total exports. Luxembourg (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Luxembourg (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the Netherlands ($X) remains the largest watch supplier in Benelux, comprising X% of total exports. The second position in the ranking was held by Belgium ($X), with a X% share of total exports.

In the Netherlands, watch exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (X% per year) and Luxembourg (X% per year).

Export Prices by Country

The export price in Benelux stood at $X per unit in 2022, which is down by X% against the previous year. Overall, the export price, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Luxembourg ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced more modest paces of growth.

Watch Imports

Imports in Benelux

In 2022, overseas purchases of watches increased by X% to X units, rising for the second consecutive year after three years of decline. Overall, imports, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, watch imports stood at $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The Netherlands represented the largest importer of watches in Benelux, with the volume of imports recording X units, which was near X% of total imports in 2022. It was distantly followed by Belgium (X units), making up a X% share of total imports. Luxembourg (X units) followed a long way behind the leaders.

The Netherlands experienced a relatively flat trend pattern with regard to volume of imports of watches. At the same time, Luxembourg (X%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing importer imported in Benelux, with a CAGR of X% from 2012-2022. By contrast, Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands and Luxembourg increased by X and X percentage points, respectively.

In value terms, the Netherlands ($X) constitutes the largest market for imported watches in Benelux, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Luxembourg (X% per year).

Import Prices by Country

The import price in Benelux stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the import price recorded a prominent increase. The pace of growth appeared the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Luxembourg ($X per unit), while the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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