
Cyprus - Watches - Market Analysis, Forecast, Size, Trends and Insights
Cyprus: Watch Market 2020
Watch Market Size in Cyprus
The revenue of the watch market in Cyprus amounted to $X in 2018, stabilizing at 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, watch consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 when the market value increased by X% y-o-y. Cyprus watch consumption peaked at $X in 2015; however, from 2016 to 2018, consumption failed to regain its momentum.
Watch Exports
Exports from Cyprus
Watch exports from Cyprus stood at X units in 2018, jumping by X% against the previous year. In general, watch exports continue to indicate a skyrocketing expansion. The pace of growth was the most pronounced in 2008 when exports increased by X% y-o-y. Cyprus exports peaked in 2018 and are expected to retain its growth in the immediate term.
In value terms, watch exports amounted to $X in 2018. Overall, watch exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, watch exports attained their maximum at $X in 2017, and then declined slightly in the following year.
Exports by Country
China, Hong Kong SAR prevails in watch exports structure, reaching X units, which was near X% of total exports in 2018. Switzerland (X units) took the second position in the ranking, followed by Germany (X units). All these countries together occupied near X% share of total exports. China (X units), the U.S. (X units), Singapore (X units), Thailand (X units), the UK (X units) and the Netherlands (X units) held a minor share of total exports.
Exports from China, Hong Kong SAR increased at an average annual rate of +X% from 2007 to 2018. At the same time, the UK (+X%), the Netherlands (+X%), Germany (+X%), the U.S. (+X%) and Singapore (+X%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Switzerland experienced a relatively flat trend pattern. By contrast, Thailand (-X%) and China (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China, Hong Kong SAR and Germany increased by +X% and +X% percentage points, while Thailand (-X p.p.) and China (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Switzerland ($X) remains the largest watch supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by China, Hong Kong SAR ($X), with a X% share of global exports. It was followed by China, with a X% share.
In Switzerland, watch exports increased at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: China, Hong Kong SAR (+X% per year) and China (+X% per year).
Export Prices by Country
The watch export price in Cyprus stood at $X per unit in 2018, waning by -X% against the previous year. In general, the watch export price continues to indicate a drastic contraction. The pace of growth appeared the most rapid in 2013 an increase of X% y-o-y. In that year, the export prices for watches attained their peak level of $X per unit. From 2014 to 2018, the growth in terms of the export prices for watches remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Switzerland ($X per unit), while China, Hong Kong SAR ($X per unit) was amongst the lowest.
From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.
Watch Imports
Imports into Cyprus
In 2018, the imports of watches into Cyprus totaled X units, therefore, remained relatively stable against the previous year. Over the period under review, watch imports continue to indicate a moderate curtailment. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Over the period under review, watch imports attained their peak figure at X units in 2008; however, from 2009 to 2018, imports remained at a lower figure.
In value terms, watch imports amounted to $X in 2018. Over the period under review, watch imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Cyprus imports peaked in 2018 and are expected to retain its growth in the immediate term.
Imports by Country
In 2018, China, Hong Kong SAR (X units) represented the major importer of watches, constituting X% of total imports. The U.S. (X units) ranks second in terms of the total imports with a X% share, followed by India (X%), Germany (X%) and Japan (X%). The UK (X units), Colombia (X units), the Netherlands (X units), Mexico (X units), Italy (X units) and France (X units) followed a long way behind the leaders.
Imports into China, Hong Kong SAR decreased at an average annual rate of -X% from 2007 to 2018. At the same time, India (+X%), Colombia (+X%) and the Netherlands (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Germany (-X%), Japan (-X%), the UK (-X%), Mexico (-X%), Italy (-X%), France (-X%) and the U.S. (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of India and Colombia increased by +X% and +X% percentage points, while Mexico (-X p.p.), Italy (-X p.p.), Germany (-X p.p.), the UK (-X p.p.), France (-X p.p.), China, Hong Kong SAR (-X p.p.) and the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China, Hong Kong SAR ($X), the U.S. ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2018, together accounting for X% of total imports. These countries were followed by Japan, Germany, the UK, Italy, the Netherlands, India, Mexico, Cyprus and Colombia, which together accounted for a further X the main importing countries, India recorded the highest rates of growth with regard to imports, over the last eleven years, while the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2018, the watch import price in Cyprus amounted to $X per unit, going up by X% against the previous year. Over the period under review, the watch import price continues to indicate a buoyant expansion. The growth pace was the most rapid in 2012 when the import price increased by X% y-o-y. Over the period under review, the import prices for watches reached their peak figure at $X per unit in 2014; however, from 2015 to 2018, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was France ($X per unit), while Colombia ($X per unit) was amongst the lowest.
From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
This report provides an in-depth analysis of the watch market in Cyprus. 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
Recommended reports
This report provides an in-depth analysis of the market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in Asia.
This report provides an in-depth analysis of the global market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal.
This report provides an in-depth analysis of the market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in the EU.
This report provides an in-depth analysis of the market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in the U.S..
This report provides an in-depth analysis of the market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in China.
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, February 22nd, 2022 @ 04:00 pm ET
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, February 8th, 2022 @ 04:00 pm ET
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, January 25th, 2022 @ 04:00 pm ET