We use cookies to improve your experience and for marketing. Read our cookie policy or manage cookies.

Accept essential cookies
Accept all cookies
Report Latin America and the Caribbean - Watches - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

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

Single report
Sent by email within 24h (Mon-Fri)
What's the difference?
Subscription
Online access and download
from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Latin America and the Caribbean: Watch Market 2024

Watch Market Size in Latin America and the Caribbean

In 2022, the Latin American watch market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, saw a noticeable reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Watch Production in Latin America and the Caribbean

In value terms, watch production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting
HANNOVER MESSE 2024

Watch Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of watches increased by X% to X units for the first time since 2014, thus ending a seven-year declining trend. Overall, exports, however, saw a deep contraction. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, watch exports soared to $X in 2022. In general, exports, however, saw a abrupt descent. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of watches, namely Panama, Brazil and Peru, represented more than two-thirds of total export. Ecuador (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the Dominican Republic (X%) and Chile (X%). Guatemala (X units) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Panama ($X) emerged as the largest watch supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Peru ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

In Panama, watch exports shrank by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (X% per year) and Chile (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, which is down by X% against the previous year. In general, the export price, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2021, and then fell rapidly in the following year.

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 Panama ($X per unit), while Ecuador ($X per unit) was amongst the lowest.

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

Watch Imports

Imports in Latin America and the Caribbean

Watch imports soared to X units in 2022, increasing by X% against the year before. In general, imports, however, continue to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, watch imports expanded sharply to $X in 2022. Over the period under review, imports, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the six major importers of watches, namely Mexico, Colombia, Paraguay, Chile, Argentina and Peru, represented more than two-thirds of total import. Brazil (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

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

In Mexico, watch imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Chile (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the import price, however, recorded modest growth. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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 Mexico ($X per unit), while Paraguay ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of consumption in 2023 were Mexico, Brazil and Colombia, with a combined 47% share of total consumption. Paraguay, Chile, Argentina, Peru and Guatemala lagged somewhat behind, together comprising a further 42%.
Brazil constituted the country with the largest volume of watch production, accounting for 76% of total volume. Moreover, watch production in Brazil exceeded the figures recorded by the second-largest producer, Guatemala, sixfold. The third position in this ranking was taken by Puerto Rico, with a 5.7% share.
In value terms, Panama emerged as the largest watch supplier in Latin America and the Caribbean, comprising 42% of total exports. The second position in the ranking was held by Peru, with a 13% share of total exports. It was followed by Chile, with a 6.4% share.
In value terms, Mexico constitutes the largest market for imported watches in Latin America and the Caribbean, comprising 40% of total imports. The second position in the ranking was held by Colombia, with a 7.4% share of total imports. It was followed by Chile, with a 6.7% share.
In 2022, the export price in Latin America and the Caribbean amounted to $138 per unit, dropping by -34.5% against the previous year.
The import price in Latin America and the Caribbean stood at $18 per unit in 2022, declining by -5.1% 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:

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. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • 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

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

Recommended reports

Asia - Watches - Market Analysis, Forecast, Size, Trends and Insights
$599
Apr 1, 2024
Eye 688

This report provides an in-depth analysis of the watch market in Asia.

U.S. - Watches - Market Analysis, Forecast, Size, Trends and Insights
$599
Apr 1, 2024
Eye 825

This report provides an in-depth analysis of the watch market in the U.S..

China - Watches - Market Analysis, Forecast, Size, Trends and Insights
$599
Apr 1, 2024
Eye 1377

This report provides an in-depth analysis of the watch market in China.

EU - Watches - Market Analysis, Forecast, Size, Trends and Insights
$599
Apr 1, 2024
Eye 988

This report provides an in-depth analysis of the watch market in the EU.

World - Watches - Market Analysis, Forecast, Size, Trends and Insights
$599
Apr 1, 2024
Eye 2327

This report provides an in-depth analysis of the global watch market.

Free Data: Watches - Latin America and the Caribbean
Table
Watches - Latin America and the Caribbean - Table
Dashboard
Watches - Latin America and the Caribbean - Dashboard
Report
Watches - Latin America and the Caribbean - Report