Japan: Watch Market 2022

Watch Market Size in Japan

The Japanese watch market expanded markedly to $X in 2021, surging by X% against the previous year. In general, consumption, however, continues to indicate a deep slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Watch Production in Japan

In value terms, watch production reached $X in 2021 estimated in export price. Overall, production, however, showed a abrupt descent. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Watch Exports

Exports from Japan

After six years of decline, shipments abroad of watches increased by X% to X units in 2021. In general, exports, however, continue to indicate a perceptible downturn. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, watch exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units) was the main destination for watch exports from Japan, accounting for a X% share of total exports. Moreover, watch exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X units), threefold. The third position in this ranking was occupied by the United States (X units), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-X% per year) and the United States (+X% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and China ($X) constituted the largest markets for watch exported from Japan worldwide, with a combined X% share of total exports. These countries were followed by the Netherlands, Taiwan (Chinese), the UK, Germany, Saudi Arabia and Vietnam, which together accounted for a further X terms of the main countries of destination, Vietnam, with a CAGR of +X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average watch export price stood at $X per unit in 2021, growing by X% against the previous year. In general, the export price enjoyed a strong increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. The export price peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by the country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to Vietnam ($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 the UK (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Japan

Watch imports into Japan surged to X units in 2021, growing by X% against the previous year's figure. Overall, imports, however, saw a drastic downturn. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, watch imports amounted to $X in 2021. The total import value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Switzerland (X units), China (X units) and Thailand (X units) were the main suppliers of watch imports to Japan, with a combined X% share of total imports.

From 2012 to 2021, the biggest increases were in Thailand (with a CAGR of +X%), while purchases for the other leaders experienced a decline.

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

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: China (-X% per year) and Thailand (+X% per year).

Import Prices by Country

The average watch import price stood at $X per unit in 2021, declining by -X% against the previous year. Over the period under review, the import price, however, saw a strong expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2020, and then declined in the following year.

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 Switzerland (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform