Report Philippines - Watches - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: May 31, 2022

Philippines - Watches - Market Analysis, Forecast, Size, Trends and Insights
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Philippines: Watch Market 2022

Watch Market Size in the Philippines

The Philippine watch market shrank significantly to $X in 2021, which is down 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, consumption, however, saw a significant expansion. As a result, consumption reached the peak level of $X, and then fell dramatically in the following year.

Watch Exports

Exports from the Philippines

In 2021, shipments abroad of watches increased by X% to X units, rising for the second consecutive year after four years of decline. Over the period under review, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, watch exports soared to $X in 2021. Overall, exports recorded significant growth. The growth pace was the most rapid in 2020 when exports increased by X%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for watch exports from the Philippines, accounting for a X% share of total exports. Moreover, watch exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), more than tenfold. Mexico (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 totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+X% per year) and Mexico (+X% per year).

In value terms, the largest markets for watch exported from the Philippines were the United States ($X), the Netherlands ($X) and Canada ($X), with a combined X% share of total exports.

Canada, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average watch export price amounted to $X per unit, falling by -X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit, and then fell dramatically in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($X per unit), while the average price for exports to the United States ($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 Mexico (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into the Philippines

In 2021, imports of watches into the Philippines rose remarkably to X units, increasing by X% on 2020 figures. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, watch imports totaled $X in 2021. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of watch to the Philippines, accounting for a X% share of total imports. Moreover, watch imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), sixfold.

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

In value terms, Switzerland ($X) constituted the largest supplier of watch to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Switzerland amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Hong Kong SAR (+X% per year).

Import Prices by Country

The average watch import price stood at $X per unit in 2021, flattening at the previous year. Overall, the import price showed a abrupt downturn. The growth pace was the most rapid in 2019 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tonnes

Frequently Asked Questions (FAQ) :

What are the largest markets for watches in the world?
+
The country with the largest volume of watch consumption was South Africa, accounting for 65% of total volume. Moreover, watch consumption in South Africa exceeded the figures recorded by the second-largest consumer, the United States, more than tenfold. China ranked third in terms of total consumption with a 5% share.
What are the largest producers of watches in the world?
+
South Africa constituted the country with the largest volume of watch production, comprising approx. 94% of total volume. Moreover, watch production in South Africa exceeded the figures recorded by the second-largest producer, China, more than tenfold.
What are the leading suppliers of watches to the Philippines?
+
In value terms, Switzerland constituted the largest supplier of watch to the Philippines, comprising 66% of total imports. The second position in the ranking was occupied by China, with a 21% share of total imports.
What are the leading importers of watches from the Philippines?
+
In value terms, the United States, the Netherlands and Canada appeared to be the largest markets for watch exported from the Philippines worldwide, together comprising 58% of total exports.
What is the average export price for watches in the Philippines?
+
In 2021, the average watch export price amounted to $31 per unit, falling by -22.9% against the previous year.
What is the average import price for watches in the Philippines?
+
The average watch import price stood at $14 per unit in 2021, flattening at the previous year.

This report provides an in-depth analysis of the watch market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
• Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
• Philippines

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the Philippines
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2007–2021
Table 3:
Market Value, 2007–2021
Table 4:
Per Capita Consumption In 2007–2021
Table 5:
Imports, In Physical Terms, By Country, 2007–2021
Table 6:
Imports, In Value Terms, By Country, 2007–2021
Table 7:
Import Prices, By Country Of Origin, 2007–2021
Table 8:
Exports, In Physical Terms, By Country, 2007–2021
Table 9:
Exports, In Value Terms, By Country, 2007–2021
Table 10:
Export Prices, By Country Of Destination, 2007–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2021
Figure 2:
Market Value, 2007–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2021
Figure 5:
Trade Balance, In Physical Terms, 2007–2021
Figure 6:
Trade Balance, In Value Terms, 2007–2021
Figure 7:
Per Capita Consumption, 2007–2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2021
Figure 21:
Production, In Value Terms, 2007–2021
Figure 22:
Imports, In Physical Terms, 2007–2021
Figure 23:
Imports, In Value Terms, 2007–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2007–2021
Figure 26:
Imports, In Value Terms, By Country, 2007–2021
Figure 27:
Import Prices, By Country Of Origin, 2007–2021
Figure 28:
Exports, In Physical Terms, 2007–2021
Figure 29:
Exports, In Value Terms, 2007–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2007–2021
Figure 32:
Exports, In Value Terms, By Country, 2007–2021
Figure 33:
Export Prices, By Country Of Destination, 2007–2021
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