Middle East: Watch Market 2024

Watch Market Size in the Middle East

In 2022, the Middle Eastern watch market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Watch Production in the Middle East

In value terms, watch production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production saw a deep setback. The growth pace was the most rapid in 2020 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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

Watch Exports

Exports in the Middle East

In 2022, shipments abroad of watches increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports posted a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, watch exports skyrocketed to $X in 2022. In general, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X units, which was near X% of total exports in 2022. Turkey (X units) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Israel (X%). Oman (X units), Lebanon (X units) and Bahrain (X units) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Bahrain (X%), Oman (X%), Lebanon (X%) and Israel (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Turkey experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest watch supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Bahrain ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In the United Arab Emirates, watch exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bahrain (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the export prices failed to regain momentum.

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 Bahrain ($X per unit), while Turkey ($X per unit) was amongst the lowest.

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

Watch Imports

Imports in the Middle East

Watch imports fell to X units in 2022, which is down by X% against 2021. In general, imports recorded a deep setback. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, watch imports skyrocketed to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

Saudi Arabia (X units) and the United Arab Emirates (X units) were the major importers of watches in 2022, amounting to approx. X% and X% of total imports, respectively. It was distantly followed by Turkey (X units), Kuwait (X units), Qatar (X units) and Oman (X units), together creating a X% share of total imports. Israel (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported watches in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

In the United Arab Emirates, watch imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, surging by X% against the previous year. Overall, the import price showed a strong expansion. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

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 Kuwait ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :