Malaysia: Watch Market 2022

Watch Market Size in Malaysia

In 2021, the Malaysian watch market increased by X% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a abrupt contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Watch Exports

Exports from Malaysia

Watch exports from Malaysia fell to X units in 2021, which is down by -X% on the year before. Overall, total exports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, watch exports rose slightly to $X in 2021. In general, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for watch exports from Malaysia, accounting for a X% share of total exports. Moreover, watch exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X units), twofold. Singapore (X units) ranked third in terms of total exports with a X% share.

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

In value terms, Hong Kong SAR ($X) remains the key foreign market for watch exports from Malaysia, comprising X% of total exports. The second position in the ranking was occupied by the United States ($X), with a X% share of total exports. It was followed by China, with an X% share.

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

Export Prices by Country

In 2021, the average watch export price amounted to $X per unit, surging by X% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, watch export price increased by +X% against 2017 indices. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to the United States ($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 Hong Kong SAR (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Watch Imports

Imports into Malaysia

In 2021, supplies from abroad of watches increased by X% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth imports failed to regain momentum.

In value terms, watch imports contracted to $X in 2021. In general, imports, however, showed a mild descent. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth imports remained at a lower figure.

Imports by Country

In 2021, Hong Kong SAR (X units) constituted the largest supplier of watch to Malaysia, with a X% share of total imports. Moreover, watch imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, China (X units), sevenfold. Thailand (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Hong Kong SAR totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Thailand (+X% per year).

In value terms, Switzerland ($X), Hong Kong SAR ($X) and China ($X) appeared to be the largest watch suppliers to Malaysia, with a combined X% share of total imports. These countries were followed by Thailand and the Philippines, which together accounted for a further X Philippines, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average watch import price amounted to $X per unit, reducing by -X% against the previous year. Overall, the import price, however, saw a remarkable increase. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The import price peaked at $X per unit in 2020, and then contracted notably in the following year.

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

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

Source: IndexBox Platform