Romania: Watch Market 2023

Watch Market Size in Romania

The Romanian watch market soared to $X in 2021, picking up by 43% 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). Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Watch Exports

Exports from Romania

In 2021, watch exports from Romania surged to X units, rising by 20% compared with 2020. Over the period under review, total exports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% 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 +37.2% against 2018 indices. The growth pace was the most rapid in 2016 when exports increased by 48% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, watch exports expanded significantly to $X in 2021. In general, exports showed a strong expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 55%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Bulgaria (X units), Hungary (X units) and France (X units) were the main destinations of watch exports from Romania, together accounting for 40% of total exports. The Netherlands, Spain, Austria, Moldova, Germany, the Czech Republic, Italy, Poland, Saudi Arabia and Greece lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +180.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for watch exported from Romania were Italy ($X), Bulgaria ($X) and Austria ($X), together comprising 43% of total exports.

Among the main countries of destination, Austria, with a CAGR of +175.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average watch export price stood at $X per unit in 2021, declining by -4.4% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +10.2% 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 +19.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 77% against the previous year. The export price peaked at $X per unit in 2020, and then reduced modestly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Spain ($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 Italy (+58.1%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Romania

In 2021, purchases abroad of watches was finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 21%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, watch imports surged to $X in 2021. Over the period under review, imports posted a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and Poland (X units) were the main suppliers of watch imports to Romania, with a combined 65% share of total imports. These countries were followed by Austria, France, Lithuania, Belgium, Italy, Hungary, Switzerland, the Netherlands and Spain, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +128.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest watch suppliers to Romania were Germany ($X), Switzerland ($X) and France ($X), together accounting for 53% of total imports. These countries were followed by Austria, Italy, China, Belgium, the Netherlands, Poland, Lithuania, Spain and Hungary, which together accounted for a further 41%.

In terms of the main suppliers, Lithuania, with a CAGR of +92.2%, recorded the highest rates of growth with regard to the value of imports, 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, picking up by 52% against the previous year. Over the period under review, the import price continues to indicate a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for Poland ($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 Netherlands (+21.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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