In 2023, Germany led the European watches and clocks industry in terms of hours worked with 6.7775 million, experiencing a slight increase of 0.49% year-on-year. Portugal showed growth at 0.53%, while Italy faced a decline of 2.42%. The Netherlands marked notable growth at 4.39%, whereas Spain saw a contraction of 4.21%. Other significant variations include Latvia's increase of 19.89% and Poland's significant drop by 30.09%. Finland reported a rise of 7.07%, while Sweden and Croatia faced significant declines, as did Norway and Austria.
Future trends to watch in the European watches and clocks sector include potential recovery in countries facing declines, continued strength in Germany, and the impact of technological advancements on labor demand. Attention should be given to emerging markets like Latvia, which have shown remarkable growth, as well as shifts in consumer preferences and automation impacts across the industry.
Top countries in Watches and Clocks Hours Worked by Country
| # | 10 Countries | Hours | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 6,777,500 | 2023 | +6.5% | +0.49% | View data |
| 2 | 2 Portugal | 855,540 | 2023 | -0.078% | +0.53% | View data |
| 3 | 3 Italy | 482,120 | 2023 | -2.96% | -2.42% | View data |
| 4 | 4 Netherlands | 312,740 | 2023 | +11.88% | +4.39% | View data |
| 5 | 5 Spain | 278,890 | 2023 | -6.18% | -4.21% | View data |
| 6 | 6 Czech Republic | 207,590 | 2023 | +0.78% | +0.85% | View data |
| 7 | 7 Lithuania | 70,190 | 2023 | +9.3% | +1.93% | View data |
| 8 | 8 Sweden | 58,570 | 2023 | -14.52% | -13.96% | View data |
| 9 | 9 Hungary | 57,920 | 2023 | +1.52% | -0.25% | View data |
| 10 | 10 Belgium | 35,730 | 2023 | -19.94% | -12.28% | View data |
