Sweden: Watch Market 2022

Watch Market Size in Sweden

The Swedish watch market skyrocketed to $X in 2021, picking up by X% against the previous year. Over the period under review, consumption, however, recorded a modest expansion. Watch consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Watch Production in Sweden

In value terms, watch production fell remarkably to $X in 2021 estimated in export price. Overall, production continues to indicate a sharp shrinkage. Over the period under review, production reached the maximum level at $X in 2020, and then shrank dramatically in the following year.

Watch Exports

Exports from Sweden

In 2021, overseas shipments of watches decreased by -X% to X units, falling for the fifth consecutive year after three years of growth. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, watch exports rose to $X in 2021. Overall, exports showed a tangible increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Norway (X units), Germany (X units) and the United States (X units) were the main destinations of watch exports from Sweden, with a combined X% share of total exports. Italy, the UK, Poland, Switzerland, Hong Kong SAR, South Africa, Denmark, France, Finland and Canada lagged somewhat behind, together comprising a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Norway ($X) and the United States ($X) were the largest markets for watch exported from Sweden worldwide, with a combined X% share of total exports. These countries were followed by Hong Kong SAR, Germany, France, Switzerland, Denmark, the UK, Poland, Finland, South Africa and Canada, which together accounted for a further X Africa, with a CAGR of +X%, saw the highest growth rate of the value of exports, in terms of 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

The average watch export price stood at $X per unit in 2021, growing by X% against the previous year. Overall, the export price enjoyed a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

Watch Imports

Imports into Sweden

In 2021, purchases abroad of watches decreased by -X% to X units, falling for the fifth year in a row after three years of growth. In general, imports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth imports failed to regain momentum.

In value terms, watch imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a pronounced increase from 2012 to 2021: its value decreased at an average annual rate of -X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of watch to Sweden, with a X% share of total imports. Moreover, watch imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold. Hong Kong SAR (X units) ranked third in terms of total imports with a X% share.

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

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

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

Import Prices by Country

The average watch import price stood at $X per unit in 2021, picking up by X% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +X% 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 import price increased by +X% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform