Report Colombia - Watches - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: May 31, 2022

Colombia - Watches - Market Analysis, Forecast, Size, Trends and Insights
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Colombia: Watch Market 2022

Watch Market Size in Colombia

The Colombian watch market skyrocketed to $X in 2021, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a mild shrinkage. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Watch Exports

Exports from Colombia

In 2021, overseas shipments of watches increased by X% to X units, rising for the second consecutive year after four years of decline. In general, exports showed tangible growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, watch exports skyrocketed to $X in 2021. Over the period under review, exports showed a buoyant expansion. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Peru (X units), Ecuador (X units) and Switzerland (X units) were the main destinations of watch exports from Colombia, together accounting for X% of total exports. These countries were followed by Costa Rica, Panama, Spain and Guatemala, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Peru ($X) and Ecuador ($X) were the largest markets for watch exported from Colombia worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Switzerland, with a CAGR of +X%, recorded the highest growth rate of 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

In 2021, the average watch export price amounted to $X per unit, increasing by X% against the previous year. In general, the export price posted a buoyant expansion. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Spain ($X per unit), while the average price for exports to Costa Rica ($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 Peru (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Colombia

Watch imports into Colombia surged to X units in 2021, jumping by X% compared with the previous year. In general, total imports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -X% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth imports remained at a somewhat lower figure.

In value terms, watch imports skyrocketed to $X in 2021. Overall, imports continue to indicate a pronounced slump. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main watch supplier to Colombia, accounting for a approx. X% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China stood at +X%.

In value terms, China ($X) constituted the largest supplier of watch to Colombia.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -X%.

Import Prices by Country

In 2021, the average watch import price amounted to $X per unit, with an increase of X% against the previous year. In general, the import price, however, showed a noticeable slump. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -X% per year.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tonnes

Frequently Asked Questions (FAQ) :

What are the largest markets for watches in the world?
+
South Africa constituted the country with the largest volume of watch consumption, comprising approx. 65% of total volume. Moreover, watch consumption in South Africa exceeded the figures recorded by the second-largest consumer, the United States, more than tenfold. China ranked third in terms of total consumption with a 5% share.
What are the largest producers of watches in the world?
+
South Africa constituted the country with the largest volume of watch production, accounting for 94% of total volume. Moreover, watch production in South Africa exceeded the figures recorded by the second-largest producer, China, more than tenfold.
What are the leading suppliers of watches to Colombia?
+
In value terms, China constituted the largest supplier of watch to Colombia.
What are the leading importers of watches from Colombia?
+
In value terms, the largest markets for watch exported from Colombia were Switzerland, Peru and Ecuador, with a combined 49% share of total exports.
What is the average export price for watches in Colombia?
+
In 2021, the average watch export price amounted to $14 per unit, growing by 11% against the previous year.
What is the average import price for watches in Colombia?
+
In 2021, the average watch import price amounted to $5.3 per unit, picking up by 7.2% against the previous year.

This report provides an in-depth analysis of the watch market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
• Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
• Colombia

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Colombia
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2007–2021
Table 3:
Market Value, 2007–2021
Table 4:
Per Capita Consumption In 2007–2021
Table 5:
Imports, In Physical Terms, By Country, 2007–2021
Table 6:
Imports, In Value Terms, By Country, 2007–2021
Table 7:
Import Prices, By Country Of Origin, 2007–2021
Table 8:
Exports, In Physical Terms, By Country, 2007–2021
Table 9:
Exports, In Value Terms, By Country, 2007–2021
Table 10:
Export Prices, By Country Of Destination, 2007–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2021
Figure 2:
Market Value, 2007–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2021
Figure 5:
Trade Balance, In Physical Terms, 2007–2021
Figure 6:
Trade Balance, In Value Terms, 2007–2021
Figure 7:
Per Capita Consumption, 2007–2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2021
Figure 21:
Production, In Value Terms, 2007–2021
Figure 22:
Imports, In Physical Terms, 2007–2021
Figure 23:
Imports, In Value Terms, 2007–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2007–2021
Figure 26:
Imports, In Value Terms, By Country, 2007–2021
Figure 27:
Import Prices, By Country Of Origin, 2007–2021
Figure 28:
Exports, In Physical Terms, 2007–2021
Figure 29:
Exports, In Value Terms, 2007–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2007–2021
Figure 32:
Exports, In Value Terms, By Country, 2007–2021
Figure 33:
Export Prices, By Country Of Destination, 2007–2021
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