Malta: Watch Market 2020

Watch Market Size in Malta

The revenue of the watch market in Malta amounted to $X in 2018, falling by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, watch consumption continues to indicate a drastic shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. In that year, the watch market reached its peak level of $X. From 2016 to 2018, the growth of the watch market failed to regain its momentum.

Watch Exports

Exports from Malta

Watch exports from Malta totaled X units in 2018, dropping by -X% against the previous year. In general, watch exports continue to indicate an abrupt downturn. The pace of growth was the most pronounced in 2016 when exports increased by X% year-to-year. Over the period under review, watch exports attained their peak figure at X units in 2009; however, from 2010 to 2018, exports remained at a lower figure.

In value terms, watch exports totaled $X in 2018. In general, watch exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Malta exports peaked at $X in 2013; however, from 2014 to 2018, exports stood at a somewhat lower figure.

Exports by Country

China, Hong Kong SAR prevails in watch exports structure, reaching X units, which was approx. X% of total exports in 2018. It was distantly followed by Switzerland (X units) and Germany (X units), together creating an X% share of total exports. The following exporters - China (X units), the U.S. (X units), Singapore (X units), Thailand (X units), the UK (X units) and the Netherlands (X units) - together made up X% 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 ($X) remains the largest watch supplier from Malta, comprising X% of global exports. The second position in the ranking was occupied by China, Hong Kong SAR ($X), with a X% share of global exports. It was followed by China, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Switzerland stood at +X%. In the other countries, the average annual rates were as follows: China, Hong Kong SAR (+X% per year) and China (+X% per year).

Export Prices by Country

The watch export price in Malta stood at $X per unit in 2018, picking up by X% against the previous year. In general, the watch export price continues to indicate an extraordinary increase. The growth pace was the most rapid in 2017 an increase of X% year-to-year. Malta export price peaked in 2018 and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2018, 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 Malta

In 2018, the amount of watches imported into Malta totaled X units, reducing by -X% against the previous year. Overall, watch imports continue to indicate a deep slump. The growth pace was the most rapid in 2015 with an increase of X% year-to-year. In that year, watch imports reached their peak of X units. From 2016 to 2018, the growth of watch imports failed to regain its momentum.

In value terms, watch imports amounted to $X in 2018. Over the period under review, watch imports continue to indicate a drastic setback. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, watch imports attained their peak figure at $X in 2015; however, from 2016 to 2018, imports stood at a somewhat lower figure.

Imports by Country

In 2018, China, Hong Kong SAR (X units) represented the major importer of watches, creating X% of total imports. The U.S. (X units) ranks second in terms of the total imports with a X% share, 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. While the share of India (+X p.p.) and Colombia (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of 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.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China, Hong Kong SAR ($X), the U.S. ($X) and France ($X) were the countries with the highest levels of imports in 2018, with a combined X% share of total imports. These countries were followed by Japan, Germany, the UK, Italy, the Netherlands, India, Mexico, Colombia and Malta, which together accounted for a further X terms of the main importing countries, India recorded the highest rates of growth with regard to imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the watch import price in Malta amounted to $X per unit, coming down by -X% against the previous year. Overall, the watch import price, however, continues to indicate a mild expansion. The pace of growth appeared the most rapid in 2017 when the import price increased by X% y-o-y. In that year, the import prices for watches reached their peak level of $X per unit, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2018, 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