Lithuania: Watch Market 2020

Watch Market Size in Lithuania

The revenue of the watch market in Lithuania amounted to $X in 2018, declining by -X% against the previous year. Overall, watch consumption, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. Over the period under review, the watch market reached its peak figure level at $X in 2008; however, from 2009 to 2018, consumption stood at a somewhat lower figure.

Watch Production in Lithuania

In value terms, watch production amounted to $X in 2018 estimated in export prices. Overall, watch production continues to indicate an abrupt decrease. The growth pace was the most rapid in 2009 with an increase of X% year-to-year. Lithuania watch production peaked at $X in 2013; however, from 2014 to 2018, production stood at a somewhat lower figure.

Watch Exports

Exports from Lithuania

In 2018, approx. X units of watches were exported from Lithuania; leveling off at the previous year. Over the period under review, watch exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. Over the period under review, watch exports attained their peak figure at X units in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.

In value terms, watch exports amounted to $X in 2018. In general, watch exports continue to indicate an outstanding increase. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. In that year, watch exports attained their peak and are likely to continue its growth in the immediate term.

Exports by Country

China, Hong Kong SAR prevails in watch exports structure, reaching X units, which was approx. X% of total exports in 2018. Switzerland (X units) held a X% share (based on tons) of total exports, which put it in second place, followed by Germany (X%). China (X units), the U.S. (X units), Singapore (X units), Thailand (X units), the UK (X units) and the Netherlands (X units) held a little share of total exports.

From 2007 to 2018, average annual rates of growth with regard to watch exports from China, Hong Kong SAR stood at +X%. At the same time, the UK (+X%), the Netherlands (+X%), Germany (+X%), the U.S. (+X%) and Singapore (+X%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Switzerland experienced a relatively flat trend pattern. By contrast, Thailand (-X%) and China (-X%) illustrated a downward trend over the same period. China, Hong Kong SAR (+X p.p.) and Germany (+X p.p.) significantly strengthened its position in terms of the global exports, while Thailand and China saw its share reduced by -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Switzerland ($X) remains the largest watch supplier from Lithuania, comprising X% of global exports. The second position in the ranking was occupied by China, Hong Kong SAR ($X), with a X% share of global exports. It was followed by China, with a X% share.

In Switzerland, watch exports expanded at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: China, Hong Kong SAR (+X% per year) and China (+X% per year).

Export Prices by Country

In 2018, the watch export price in Lithuania amounted to $X per unit, surging by X% against the previous year. Over the period under review, the watch export price continues to indicate an extraordinary expansion. The pace of growth was the most pronounced in 2018 when the export price increased by X% y-o-y. In that year, the export prices for watches attained their peak level and is likely to continue its growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was Switzerland ($X per unit), while China, Hong Kong SAR ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Watch Imports

Imports into Lithuania

In 2018, approx. X units of watches were imported into Lithuania; going up by X% against the previous year. Over the period under review, the total imports indicated a prominent increase from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, watch imports increased by +X% against 2010 indices. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Lithuania imports peaked in 2018 and are likely to continue its growth in the near future.

In value terms, watch imports stood at $X in 2018. Overall, watch imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. In that year, watch imports reached their peak of $X, and then declined slightly in the following year.

Imports by Country

In 2018, China, Hong Kong SAR (X units) was the major importer of watches, mixing up X% of total imports. The U.S. (X units) occupied an X% share (based on tons) of total imports, which put it in second place, followed by India (X%), Germany (X%) and Japan (X%). The following importers - the UK (X units), Colombia (X units), the Netherlands (X units), Mexico (X units), Italy (X units) and France (X units) - together made up X% of total imports.

From 2007 to 2018, average annual rates of growth with regard to watch imports into China, Hong Kong SAR stood at -X%. At the same time, India (+X%), Colombia (+X%) and the Netherlands (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Germany (-X%), Japan (-X%), the UK (-X%), Mexico (-X%), Italy (-X%), France (-X%) and the U.S. (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of India and Colombia increased by +X% and +X% percentage points, while Mexico (-X p.p.), Italy (-X p.p.), Germany (-X p.p.), the UK (-X p.p.), France (-X p.p.), China, Hong Kong SAR (-X p.p.) and the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest watch importing markets into Lithuania were China, Hong Kong SAR ($X), the U.S. ($X) and France ($X), with a combined X% share of total imports. Japan, Germany, the UK, Italy, the Netherlands, India, Mexico, Colombia and Lithuania lagged somewhat behind, together accounting for a further X recorded the highest rates of growth with regard to imports, in terms of the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The watch import price in Lithuania stood at $X per unit in 2018, coming down by -X% against the previous year. In general, the watch import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X% year-to-year. Lithuania import price peaked at $X per unit in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was France ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform