Southern Asia: Watch Market 2024

Watch Market Size in Southern Asia

The South Asian watch market fell to $X in 2022, declining by X% against the previous year. The total consumption indicated moderate 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, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2021, and then fell in the following year.

Watch Production in Southern Asia

In value terms, watch production amounted to $X in 2022 estimated in export price. The total production indicated a prominent expansion 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

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Watch Exports

Exports in Southern Asia

In 2022, watch exports in Southern Asia skyrocketed to X units, picking up by X% against the previous year. Total exports indicated a slight increase from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, watch exports reduced dramatically to $X in 2022. Overall, exports, however, showed a mild contraction. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

India dominates exports structure, accounting for X units, which was approx. X% of total exports in 2022. Sri Lanka (X units) took a relatively small share of total exports.

Exports from India increased at an average annual rate of X% from 2012 to 2022. At the same time, Sri Lanka (X%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest watch supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in India totaled X%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, dropping by X% against the previous year. Overall, the export price recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while India totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%).

Watch Imports

Imports in Southern Asia

In 2022, imports of watches in Southern Asia shrank dramatically to X units, with a decrease of X% against the previous year's figure. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then shrank remarkably in the following year.

In value terms, watch imports soared to $X in 2022. Total imports indicated a moderate increase 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 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

India prevails in imports structure, reaching X units, which was approx. X% of total imports in 2022. It was distantly followed by Pakistan (X units), creating an X% share of total imports. Sri Lanka (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to watch imports into India stood at X%. At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. Sri Lanka experienced a relatively flat trend pattern. While the share of India (X p.p.) and Pakistan (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported watches in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Pakistan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at X%. In the other countries, the average annual rates were as follows: Pakistan (X% per year) and Sri Lanka (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, rising by X% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price 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. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

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 India ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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