Report Latin America and the Caribbean - Watches - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Aug 7, 2022

Latin America and the Caribbean - Watches - Market Analysis, Forecast, Size, Trends and Insights
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Latin America and the Caribbean: Watch Market 2022

Watch Market Size in Latin America and the Caribbean

The Latin American watch market surged to $X in 2021, jumping by X% against the previous year. In general, consumption, however, continues to indicate a perceptible setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Watch Production in Latin America and the Caribbean

In value terms, watch production declined to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Watch Exports

Exports in Latin America and the Caribbean

Watch exports declined modestly to X units in 2021, approximately mirroring the previous year. In general, exports showed a abrupt slump. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, watch exports expanded notably to $X in 2021. Overall, exports recorded a abrupt contraction. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Panama prevails in exports structure, reaching X units, which was near X% of total exports in 2021. The following exporters - Mexico (X units), Colombia (X units), Peru (X units), Jamaica (X units), the Dominican Republic (X units) and Costa Rica (X units) - together made up X% of total exports.

From 2012 to 2021, average annual rates of growth with regard to watch exports from Panama stood at -X%. At the same time, the Dominican Republic (+X%) and Costa Rica (+X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. Peru and Jamaica experienced a relatively flat trend pattern. By contrast, Colombia (-X%) and Mexico (-X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Dominican Republic, Costa Rica, Peru, Jamaica and Colombia increased by +X, +X, +X, +X and +X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Panama ($X) remains the largest watch supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by the Dominican Republic, with a X% share.

In Panama, watch exports shrank by an average annual rate of -X% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+X% per year) and the Dominican Republic (+X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, increasing by X% against the previous year. Overall, the export price continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2017 when the export price increased by X%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($X per unit), while Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+X%), while the other leaders experienced more modest paces of growth.

Watch Imports

Imports in Latin America and the Caribbean

In 2021, approx. X units of watches were imported in Latin America and the Caribbean; jumping by X% against 2020. In general, imports, however, recorded a slight slump. The volume of import peaked 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. Overall, imports, however, recorded a perceptible downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Venezuela was the major importing country with an import of around X units, which resulted at X% of total imports. Mexico (X units) took the second position in the ranking, followed by Colombia (X units), Suriname (X units), Chile (X units), Peru (X units) and Argentina (X units). All these countries together held near X% share of total imports. Paraguay (X units), Guatemala (X units), Ecuador (X units), the Dominican Republic (X units) and Bahamas (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to watch imports into Venezuela stood at +X%. At the same time, Suriname (+X%), the Dominican Republic (+X%), Guatemala (+X%), Argentina (+X%), Paraguay (+X%), Chile (+X%), Peru (+X%) and Colombia (+X%) displayed positive paces of growth. Moreover, Suriname emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. By contrast, Ecuador (-X%), Bahamas (-X%) and Mexico (-X%) illustrated a downward trend over the same period. While the share of Venezuela (+X p.p.), Suriname (+X p.p.), Chile (+X p.p.), Argentina (+X p.p.), Peru (+X p.p.), Colombia (+X p.p.) and the Dominican Republic (+X p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported watches in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Chile ($X), with an X% share of total imports. It was followed by Colombia, with a X% share.

From 2012 to 2021, the average annual growth rate of value in Mexico was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+X% per year) and Colombia (-X% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, falling by -X% against the previous year. In general, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the import prices remained 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 Mexico ($X per unit), while Suriname (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for watches in LatAmerica and the Caribbean?
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Venezuela remains the largest watch consuming country in Latin America and the Caribbean, comprising approx. 30% of total volume. Moreover, watch consumption in Venezuela exceeded the figures recorded by the second-largest consumer, Mexico, threefold. The third position in this ranking was held by Colombia, with an 8.5% share.
What are the largest producers of watches in LatAmerica and the Caribbean?
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Brazil constituted the country with the largest volume of watch production, comprising approx. 69% of total volume. Moreover, watch production in Brazil exceeded the figures recorded by the second-largest producer, Panama, twofold.
What are the leading exporters of watches in LatAmerica and the Caribbean?
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In value terms, Panama remains the largest watch supplier in Latin America and the Caribbean, comprising 58% of total exports. The second position in the ranking was held by Mexico, with a 13% share of total exports. It was followed by the Dominican Republic, with a 3.9% share.
What are the leading importers of watches in LatAmerica and the Caribbean?
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In value terms, Mexico constitutes the largest market for imported watches in Latin America and the Caribbean, comprising 37% of total imports. The second position in the ranking was held by Chile, with an 11% share of total imports. It was followed by Colombia, with a 7% share.
What is the average export price for watches in LatAmerica and the Caribbean?
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The export price in Latin America and the Caribbean stood at $41 per unit in 2021, with an increase of 7.1% against the previous year.
What is the average import price for watches in LatAmerica and the Caribbean?
+
The import price in Latin America and the Caribbean stood at $7.4 per unit in 2021, reducing by -9.5% against the previous year.

This report provides an in-depth analysis of the watch market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
• Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
• Anguilla
• Antigua and Barbuda
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• British Virgin Islands
• Cayman Islands
• Costa Rica
• Curacao
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Saint Kitts and Nevis
• Saint Lucia
• Saint Maarten (Dutch part)
• Saint Vincent and the Grenadines
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption, By Country, 2015–2021
Table 5:
Production, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Physical Terms, By Country, 2012–2021
Table 7:
Imports, In Value Terms, By Country, 2012–2021
Table 8:
Import Prices, By Country Of Destination, 2012–2021
Table 9:
Exports, In Physical Terms, By Country, 2012–2021
Table 10:
Exports, In Value Terms, By Country, 2012–2021
Table 11:
Export Prices, By Country Of Origin, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Consumption, By Country, 2021
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2012–2021
Figure 17:
Production, In Value Terms, 2012–2021
Figure 18:
Production, By Country, 2021
Figure 19:
Production, In Physical Terms, By Country, 2012–2021
Figure 20:
Imports, In Physical Terms, 2012–2021
Figure 21:
Imports, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, By Country, 2021
Figure 23:
Imports, In Physical Terms, By Country, 2012–2021
Figure 24:
Imports, In Value Terms, By Country, 2012–2021
Figure 25:
Import Prices, By Country, 2012–2021
Figure 26:
Exports, In Physical Terms, 2012–2021
Figure 27:
Exports, In Value Terms, 2012–2021
Figure 28:
Exports, In Physical Terms, By Country, 2021
Figure 29:
Exports, In Physical Terms, By Country, 2012–2021
Figure 30:
Exports, In Value Terms, By Country, 2012–2021
Figure 31:
Export Prices, 2012–2021
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