ECOWAS: Market for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal 2022

Market Size for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in ECOWAS

The ECOWAS market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals soared to $X in 2021, with an increase of 24% against the previous year. Over the period under review, consumption saw a mild decrease. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in ECOWAS

In value terms, production of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals contracted remarkably to $X in 2021 estimated in export price. Over the period under review, production showed a slight slump. The pace of growth was the most pronounced in 2014 when the production volume increased by 84,305%. Over the period under review, production of attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Exports in ECOWAS

In 2021, approx. X units of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals were exported in ECOWAS; with an increase of 2.9% against 2020. Overall, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 357% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals fell significantly to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 283% against the previous year. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria prevails in metals structure, amounting to X units, which was near 96% of total exports in 2021. Liberia (X units) held a little share of total exports.

Nigeria was also the fastest-growing in terms of the wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals exports, with a CAGR of +27.2% from 2012 to 2021. Liberia (-29.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria increased by +75 percentage points.

In value terms, Nigeria ($X) remains the largest wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal supplier in ECOWAS, comprising 63% of total exports. The second position in the ranking was held by Liberia ($X), with a 28% share of total exports.

In Nigeria, exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals expanded at an average annual rate of +11.4% over the period from 2012-2021.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, dropping by -21.6% against the previous year. Overall, the export price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2017 when the export price increased by 356% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Liberia ($X per unit), while Nigeria stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+8.8%).

Imports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Imports in ECOWAS

Imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals declined markedly to X units in 2021, with a decrease of -29.1% against 2020 figures. Overall, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 2,751% against the previous year. Over the period under review, imports of reached the peak figure at X units in 2020, and then plummeted in the following year.

In value terms, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals skyrocketed to $X in 2021. In general, imports continue to indicate a abrupt decrease. Over the period under review, imports of attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria dominates metals structure, recording X units, which was approx. 98% of total imports in 2021. Cote d'Ivoire (X units) held a little share of total imports.

Nigeria was also the fastest-growing in terms of the wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals imports, with a CAGR of +120.5% from 2012 to 2021. At the same time, Cote d'Ivoire (+71.7%) displayed positive paces of growth. Nigeria (+73 p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire saw its share reduced by -2.3% from 2012 to 2021, respectively.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals in ECOWAS, comprising 66% of total imports. The second position in the ranking was held by Nigeria ($X), with an 11% share of total imports.

In Cote d'Ivoire, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals expanded at an average annual rate of +41.4% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, increasing by 159% against the previous year. Over the period under review, the import price, however, showed a sharp descent. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per unit), while Nigeria totaled less than $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-17.6%).

Source: IndexBox Platform

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