Report Sri Lanka - Watches - Market Analysis, Forecast, Size, Trends and Insights for 499$
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Sri Lanka - Watches - Market Analysis, Forecast, Size, Trends and Insights
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Sri Lanka: Watch Market 2022

Watch Market Size in Sri Lanka

The Sri Lankan watch market skyrocketed to $X in 2021, picking up by 189% 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, consumption posted strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Watch Exports

Exports from Sri Lanka

After two years of decline, shipments abroad of watches increased by 133% to X units in 2021. Overall, exports, however, showed a abrupt contraction. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, watch exports expanded rapidly to $X in 2021. Over the period under review, exports, however, showed a deep contraction. The growth pace was the most rapid in 2014 when exports increased by 39%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units), the United States (X units) and Hong Kong SAR (X units) were the main destinations of watch exports from Sri Lanka, together comprising 97% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +141.9%), while the other leaders experienced mixed trend patterns.

In value terms, Hong Kong SAR ($X) remains the key foreign market for watch exports from Sri Lanka, comprising 72% of total exports. The second position in the ranking was taken by the United States ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR amounted to +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+169.1% per year) and the United Arab Emirates (+20.7% per year).

Export Prices by Country

The average watch export price stood at $X per unit in 2021, shrinking by -52.3% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 58%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to the United Arab Emirates ($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 Hong Kong SAR (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Sri Lanka

In 2021, watch imports into Sri Lanka surged to X units, picking up by 224% compared with 2020. Overall, imports saw resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, watch imports surged to $X in 2021. In general, imports saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest watch supplier to Sri Lanka, accounting for a 84% share of total imports. Moreover, watch imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. The third position in this ranking was held by Switzerland (X units), with a 3.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +27.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.8% per year) and Switzerland (+19.1% per year).

In value terms, Switzerland ($X) constituted the largest supplier of watch to Sri Lanka, comprising 61% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports. It was followed by Hong Kong SAR, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.6% per year) and Hong Kong SAR (-9.4% per year).

Import Prices by Country

In 2021, the average watch import price amounted to $X per unit, shrinking by -30.2% against the previous year. In general, the import price showed a deep slump. The pace of growth appeared the most rapid in 2017 when the average import price increased by 67% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably 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 (+21.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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

Frequently Asked Questions (FAQ) :

What are the largest markets for watches in the world?
+
The countries with the highest volumes of consumption in 2021 were Saudi Arabia, China and the United States, with a combined 46% share of global consumption.
What are the largest producers of watches in the world?
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China remains the largest watch producing country worldwide, comprising approx. 67% of total volume. Moreover, watch production in China exceeded the figures recorded by the second-largest producer, Japan, fivefold. Hong Kong SAR ranked third in terms of total production with a 6.2% share.
What are the leading suppliers of watches to Sri Lanka?
+
In value terms, Switzerland constituted the largest supplier of watch to Sri Lanka, comprising 61% of total imports. The second position in the ranking was held by China, with a 16% share of total imports. It was followed by Hong Kong SAR, with an 8.4% share.
What are the leading importers of watches from Sri Lanka?
+
In value terms, Hong Kong SAR remains the key foreign market for watch exports from Sri Lanka, comprising 72% of total exports. The second position in the ranking was held by the United States, with a 17% share of total exports. It was followed by the United Arab Emirates, with a 9.8% share.
What is the average export price for watches in Sri Lanka?
+
In 2021, the average watch export price amounted to $37 per unit, waning by -52.3% against the previous year.
What is the average import price for watches in Sri Lanka?
+
In 2021, the average watch import price amounted to $7.9 per unit, dropping by -30.2% against the previous year.

This report provides an in-depth analysis of the watch market in Sri Lanka. 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:
• Sri Lanka

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Sri Lanka
• 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
REPORT DESCRIPTION
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 PRODUCT

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 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
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, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
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, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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