In 2023, China dominated the global export market of assembled incomplete movements of watches, capturing 95.12% of the share by kilograms. The United Kingdom and Japan held significantly smaller shares at 3.93% and 1.26% respectively. Notably, Japan experienced a substantial year-on-year increase of 28.24%, while Italy showed a 33.24% rise. Conversely, China's export share declined by 6.11%. Over the past five years, Japan and Italy have been on an upward trend, albeit from a smaller base.
Future trends to watch:
- Potential shifts in manufacturing capabilities or supply chain realignments could impact China's dominant position.
- Increasing focus on precision engineering and technological advancements might drive Japan's continued growth.
- Emerging markets or alternative manufacturing hubs may alter the distribution of export shares.
Top countries in Export of Assembled Incomplete Movements of Watches Share by Country (Kilograms)
| # | 6 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 95.12 | 2023 | -8.4% | -6.11% | View data |
| 2 | 2 United Kingdom | 3.93 | 2023 | +4.25% | +3.28% | View data |
| 3 | 3 Japan | 1.26 | 2023 | +4.97% | +28.24% | View data |
| 4 | 4 Italy | 0.26 | 2023 | -4.85% | +33.24% | View data |
| 5 | 5 Belgium | 0.15 | 2023 | -0.28% | -4.75% | View data |
| 6 | 6 Czech Republic | 0.05 | 2023 | +1.82% | +0.73% | View data |
