Eastern Asia: Precious Metal Watch Market 2024

Precious Metal Watch Market Size in Eastern Asia

The East Asian precious metal watch market declined rapidly to $X in 2022, falling by X% against the previous year. Overall, consumption, however, showed a pronounced setback. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Precious Metal Watch Production in Eastern Asia

In value terms, precious metal watch production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a moderate expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Precious Metal Watch Exports

Exports in Eastern Asia

In 2022, after three years of growth, there was significant decline in shipments abroad of precious metal watches, when their volume decreased by X% to X units. In general, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, precious metal watch exports reduced to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; afterwards, it flattened through to 2022.

Exports by Country

In 2022, China (X units) was the major exporter of precious metal watches, constituting X% of total exports. It was distantly followed by Hong Kong SAR (X units), making up a X% share of total exports.

China was also the fastest-growing in terms of the precious metal watches exports, with a CAGR of X% from 2012 to 2022. At the same time, Hong Kong SAR (X%) displayed positive paces of growth. China (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Hong Kong SAR ($X) remains the largest precious metal watch supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports.

In Hong Kong SAR, precious metal watch exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, picking up by X% against the previous year. Overall, the export price, however, recorded a deep downturn. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Precious Metal Watch Imports

Imports in Eastern Asia

Precious metal watch imports dropped dramatically to X units in 2022, which is down by X% on the previous year's figure. Overall, imports recorded a pronounced decrease. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, precious metal watch imports dropped to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Hong Kong SAR (X units) and Taiwan (Chinese) (X units) represented roughly X% of total imports in 2022. It was distantly followed by China (X units), Japan (X units) and Macao SAR (X units), together mixing up a X% share of total imports. South Korea (X units) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported precious metal watches in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Macao SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: China (X% per year) and Macao SAR (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, rising by X% against the previous year. Overall, the import price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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