Price for Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR - 2023
Contents:
- Price for Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR (FOB) - 2023
- Price for Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR (CIF) - 2022
- Exports of Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR
- Imports of Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR
Price for Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR (FOB) - 2023
In November 2023, the average export price for watch movements; complete and assembled, not automatic winding or electrically operateds amounted to $16.8 per unit, waning by -48.6% against the previous month. In general, the export price saw a pronounced setback. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 1,529% m-o-m. As a result, the export price reached the peak level of $292 per unit. From February 2023 to November 2023, the the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for China.
From November 2022 to November 2023, the rate of growth in terms of prices for China amounted to +12.5% per month.
Price for Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR (CIF) - 2022
The average import price for watch movements; complete and assembled, not automatic winding or electrically operateds stood at $415 per unit in 2022, picking up by 6.6% against the previous year. Overall, the import price posted a significant expansion. The pace of growth appeared the most rapid in 2014 when the average import price increased by 291%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Singapore ($439 per unit) and Switzerland ($426 per unit), while the price for Malaysia ($345 per unit) and South Korea ($375 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR
In 2022, after three years of growth, there was significant decline in shipments abroad of watch movements; complete and assembled, not automatic winding or electrically operateds, when their volume decreased by -78% to 37K units. Overall, exports showed a sharp descent. The pace of growth was the most pronounced in 2021 when exports increased by 18% against the previous year. As a result, the exports attained the peak of 168K units, and then fell sharply in the following year.
In value terms, exports of watch movements; complete and assembled, not automatic winding or electrically operateds contracted markedly to $1M in 2022. In general, exports saw a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 32%. As a result, the exports attained the peak of $2.4M, and then dropped rapidly in the following year.
| Export of Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 39.4 | 274 | 500 | 376 | 112.1% |
| China | 1,334 | 1,374 | 1,550 | 307 | -38.7% |
| United States | 4.1 | 70.7 | 16.1 | 15.4 | 55.4% |
| Others | 180 | 102 | 329 | 350 | 24.8% |
| Total | 1,557 | 1,821 | 2,395 | 1,048 | -12.4% |
Top Export Markets for Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated from Hong Kong SAR in 2022:
- China (34.5K units)
- Switzerland (0.9K units)
- United States (0.6K units)
Imports of Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR
In 2022, the amount of watch movements; complete and assembled, not automatic winding or electrically operateds imported into Hong Kong SAR reduced markedly to 1.6K units, falling by -39.6% compared with the previous year's figure. In general, imports continue to indicate a sharp contraction. The pace of growth was the most pronounced in 2021 when imports increased by 50% against the previous year. Over the period under review, imports of reached the peak figure at 5.6K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, imports of watch movements; complete and assembled, not automatic winding or electrically operateds contracted dramatically to $668K in 2022. Overall, imports, however, continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 112%. As a result, imports attained the peak of $1M, and then dropped remarkably in the following year.
| Import of Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 417 | 302 | 676 | 460 | 3.3% |
| South Korea | 44.4 | 110 | 136 | 98.9 | 30.6% |
| Singapore | 58.4 | 33.0 | 94.3 | 54.4 | -2.3% |
| Taiwan (Chinese) | N/A | 27.0 | 35.8 | 32.8 | 10.2% |
| Macao SAR | N/A | 3.7 | 7.9 | 11.6 | 77.1% |
| Malaysia | 0.5 | 3.1 | 5.9 | 10.3 | 174.1% |
| China | 20.7 | 0.9 | 0.2 | N/A | -90.2% |
| United Arab Emirates | N/A | N/A | 67.4 | N/A | 0% |
| Others | 38.4 | 9.1 | 13.8 | 0.2 | -82.7% |
| Total | 580 | 488 | 1,038 | 668 | 4.8% |
Top Suppliers of Watch Movements; Complete and Assembled, Not Automatic Winding or Electrically Operated to Hong Kong SAR in 2022:
- Switzerland (1078.0 units)
- South Korea (264.0 units)
- Singapore (124.0 units)
- Taiwan (Chinese) (84.0 units)
- Malaysia (30.0 units)
- Macao SAR (28.0 units)
395
Global Assembled Watch Movements Market Report 2018. This report provides an in-depth analysis of the global assembled watch movements market.
395
Global Assembled Watch Movements Market Report 2018. This report provides an in-depth analysis of the global assembled watch movements market.
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