EU: Watch Market 2024

Watch Market Size in the EU

The EU watch market rose notably to $X in 2022, picking up by X% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Watch Production in the EU

In value terms, watch production surged to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

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Watch Exports

Exports in the EU

Watch exports contracted modestly to X units in 2022, standing approx. at the year before. Overall, exports showed a perceptible shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, watch exports reached $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the Netherlands (X units), Germany (X units), Belgium (X units), France (X units) and Spain (X units) represented the main exporter of watches in the European Union, comprising X% of total export. It was distantly followed by Italy (X units), comprising a X% share of total exports. The following exporters - Denmark (X units), Poland (X units), the Czech Republic (X units), Ireland (X units), Portugal (X units) and Slovakia (X units) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ireland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest watch supplying countries in the European Union were France ($X), Germany ($X) and Italy ($X), together comprising X% of total exports. The Netherlands, Spain, Ireland, Belgium, Portugal, Poland, the Czech Republic, Denmark and Slovakia lagged somewhat behind, together accounting for a further X%.

Ireland, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per unit in 2022, growing by X% against the previous year. Export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, watch export price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while Denmark ($X per unit) was amongst the lowest.

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

Watch Imports

Imports in the EU

In 2022, overseas purchases of watches increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, watch imports stood at $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of watch imports in 2022 were France (X units), the Netherlands (X units), Spain (X units) and Germany (X units), together recording X% of total import. It was distantly followed by Italy (X units) and Belgium (X units), together mixing up an X% share of total imports. The following importers - Poland (X units), Portugal (X units), the Czech Republic (X units), Austria (X units), Slovakia (X units), Ireland (X units) and Greece (X units) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Slovakia (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest watch importing markets in the European Union were France ($X), Germany ($X) and Italy ($X), with a combined X% share of total imports. The Netherlands, Spain, Austria, Belgium, Ireland, Poland, Portugal, the Czech Republic, Greece and Slovakia lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Ireland, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the import price saw a strong increase. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per unit), while Slovakia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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