Central Asia: Bracelet Market 2023

Bracelet Market Size in Central Asia

The Central Asian bracelet market shrank to $X in 2021, which is down by -1.6% against the previous year. Over the period under review, consumption showed a deep setback. The growth pace was the most rapid in 2020 when the market value increased by 8.1% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Bracelet Production in Central Asia

In value terms, bracelet production reduced to $X in 2021 estimated in export price. Overall, production showed a abrupt curtailment. The growth pace was the most rapid in 2020 with an increase of 17% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Bracelet Exports

Exports in Central Asia

In 2021, the amount of watch straps, bands and bracelets exported in Central Asia dropped to X kg, waning by -10.6% on the previous year's figure. In general, exports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of 125% against the previous year. The volume of export peaked at X kg in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, bracelet exports reduced rapidly to $X in 2021. Overall, exports recorded a precipitous curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 510% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Kazakhstan (X kg) represented the key exporter of watch straps, bands and bracelets, generating 76% of total exports. Mongolia (X kg) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Kyrgyzstan (4.8%) and Uzbekistan (4.8%).

From 2012 to 2021, average annual rates of growth with regard to bracelet exports from Kazakhstan stood at -18.8%. Kyrgyzstan (-9.7%), Uzbekistan (-12.8%) and Mongolia (-23.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Uzbekistan, Kyrgyzstan and Kazakhstan increased by +4.8, +3 and +1.9 percentage points, respectively.

In value terms, Kazakhstan ($X) emerged as the largest bracelet supplier in Central Asia, comprising 62% of total exports. The second position in the ranking was held by Mongolia ($X), with a 16% share of total exports. It was followed by Uzbekistan, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan amounted to -24.8%. In the other countries, the average annual rates were as follows: Mongolia (-12.4% per year) and Uzbekistan (-26.4% per year).

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, dropping by -10.7% against the previous year. Over the period under review, the export price showed a pronounced contraction. The pace of growth appeared the most rapid in 2017 an increase of 171% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mongolia (+14.5%), while the other leaders experienced mixed trends in the export price figures.

Bracelet Imports

Imports in Central Asia

In 2021, approx. X tons of watch straps, bands and bracelets were imported in Central Asia; which is down by -28.7% compared with the previous year. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 532%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, bracelet imports surged to $X in 2021. Overall, imports, however, enjoyed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Kazakhstan represented the major importer of watch straps, bands and bracelets in Central Asia, with the volume of imports resulting at X tons, which was approx. 71% of total imports in 2021. It was distantly followed by Kyrgyzstan (X tons), generating a 24% share of total imports. Turkmenistan (X kg) took a minor share of total imports.

Kazakhstan was also the fastest-growing in terms of the watch straps, bands and bracelets imports, with a CAGR of +31.4% from 2012 to 2021. At the same time, Kyrgyzstan (+2.0%) displayed positive paces of growth. By contrast, Turkmenistan (-8.1%) illustrated a downward trend over the same period. While the share of Kazakhstan (+55 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Turkmenistan (-19.3 p.p.) and Kyrgyzstan (-29.1 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) constitutes the largest market for imported watch straps, bands and bracelets in Central Asia, comprising 96% of total imports. The second position in the ranking was held by Kyrgyzstan ($X), with a 1.6% share of total imports.

In Kazakhstan, bracelet imports increased at an average annual rate of +19.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kyrgyzstan (+12.7% per year) and Turkmenistan (-10.7% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, with an increase of 446% against the previous year. Overall, the import price continues to indicate a tangible increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+10.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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