Brazil: Watch Market 2022

Watch Market Size in Brazil

In 2021, the Brazilian watch market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a deep slump. Watch consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Watch Production in Brazil

In value terms, watch production reached $X in 2021 estimated in export price. In general, production faced a abrupt curtailment. Watch production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Watch Exports

Exports from Brazil

In 2021, the amount of watches exported from Brazil shrank dramatically to X units, waning by -X% compared with 2020 figures. Overall, exports continue to indicate a sharp curtailment. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, watch exports declined markedly to $X in 2021. In general, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

The United States (X units) was the main destination for watch exports from Brazil, accounting for a X% share of total exports. Moreover, watch exports to the United States exceeded the volume sent to the second major destination, Panama (X units), twofold. Switzerland (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+X% per year) and Switzerland (+X% per year).

In value terms, the United States ($X) remains the key foreign market for watch exports from Brazil, comprising X% of total exports. The second position in the ranking was occupied by Switzerland ($X), with a X% share of total exports. It was followed by Panama, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+X% per year) and Panama (+X% per year).

Export Prices by Country

The average watch export price stood at $X per unit in 2021, increasing by X% against the previous year. Over the period under review, the export price enjoyed a significant expansion. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was Switzerland ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Brazil

After two years of decline, purchases abroad of watches increased by X% to X units in 2021. In general, imports, however, continue to indicate a abrupt setback. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, watch imports surged to $X in 2021. Overall, imports, however, saw a drastic downturn. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of watch to Brazil, accounting for a X% share of total imports. Moreover, watch imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. The third position in this ranking was occupied by Switzerland (X units), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and Switzerland (-X% per year).

In value terms, Switzerland ($X) constituted the largest supplier of watch to Brazil, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Thailand (+X% per year).

Import Prices by Country

The average watch import price stood at $X per unit in 2021, rising by X% against the previous year. Overall, the import price recorded prominent growth. The pace of growth appeared the most rapid in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform