Denmark: Watch Market 2022

Watch Market Size in Denmark

The Danish watch market soared to $X in 2021, picking up by 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). In general, consumption, however, recorded a slight curtailment. Watch consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Watch Exports

Exports from Denmark

In 2021, exports of watches from Denmark fell to X units, which is down by -X% against 2020 figures. Overall, exports, however, posted a measured increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X units, and then contracted in the following year.

In value terms, watch exports soared to $X in 2021. In general, total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X units), Hong Kong SAR (X units) and Germany (X units) were the main destinations of watch exports from Denmark, with a combined X% share of total exports. Macao SAR, Norway, Italy, Belgium, Japan, the UK, Finland and France lagged somewhat behind, together accounting 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 Macao SAR (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for watch exports from Denmark, comprising X% of total exports. The second position in the ranking was occupied by Sweden ($X), with a X% share of total exports. It was followed by Norway, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+X% per year) and Norway (+X% per year).

Export Prices by Country

The average watch export price stood at $X per unit in 2021, jumping by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Italy ($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 Norway (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Watch Imports

Imports into Denmark

In 2021, overseas purchases of watches increased by X% to X units, rising for the third consecutive year after two years of decline. Overall, imports, however, recorded a slight decline. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, watch imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and Sweden (X units) were the main suppliers of watch imports to Denmark, with a combined X% share of total imports. These countries were followed by Spain, the Netherlands, Poland, Switzerland, Hong Kong SAR and Belgium, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

In 2021, the average watch import price amounted to $X per unit, jumping by X% against the previous year. In general, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, watch import price decreased by -X% against 2018 indices. The growth pace was the most rapid in 2013 an increase of X%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: 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 Hong Kong SAR (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform