MENA: Market for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal 2022

Market Size for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in MENA

The MENA's market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals declined to $X in 2021, falling by -8.5% against the previous year. Overall, consumption recorded a prominent increase. As a result, consumption attained the peak level of $X, and then fell in the following year.

Production of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in MENA

In value terms, production of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals declined to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 22%. Over the period under review, production of attained the maximum level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Exports in MENA

In 2021, overseas shipments of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals decreased by -0.6% to X units, falling for the second year in a row after two years of growth. In general, exports saw a deep reduction. The pace of growth appeared the most rapid in 2018 when exports increased by 42%. Over the period under review, the exports of hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals surged to $X in 2021. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 53% against the previous year. Over the period under review, the exports of reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

The United Arab Emirates (X units) and Saudi Arabia (X units) represented the main exporters of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals in 2021, accounting for approx. 45% and 34% of total exports, respectively. It was distantly followed by Turkey (X units), mixing up a 17% share of total exports. Lebanon (X units) held a little share of total exports.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +27.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal supplier in MENA, comprising 52% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 24% share of total exports. It was followed by Turkey, with a 2% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +18.2%. In the other countries, the average annual rates were as follows: Saudi Arabia (+27.7% per year) and Turkey (+21.2% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, picking up by 52% against the previous year. Overall, the export price recorded significant growth. The growth pace was the most rapid in 2016 an increase of 124%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+41.1%), while the other leaders experienced more modest paces of growth.

Imports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Imports in MENA

In 2021, purchases abroad of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals increased by 73% to X units, rising for the third consecutive year after four years of decline. Over the period under review, imports posted a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia dominates metals structure, finishing at X units, which was near 94% of total imports in 2021. The United Arab Emirates (X units) and Qatar (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal imports into Saudi Arabia stood at +13.1%. At the same time, Qatar (+50.7%) and the United Arab Emirates (+3.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in MENA, with a CAGR of +50.7% from 2012-2021. From 2012 to 2021, the share of Saudi Arabia and Qatar increased by +12 and +1.6 percentage points, respectively.

In value terms, the largest wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal importing markets in MENA were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), with a combined 76% share of total imports.

Saudi Arabia, with a CAGR of +5.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2021, declining by -22.5% against the previous year. Overall, the import price recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 when the import price increased by 86% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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