In 2023, China led the global export market for assembled incomplete movements of watches, with its export value exceeding the next leading countries by a significant margin. Japan and the United Kingdom followed, with Japan experiencing a substantial year-on-year increase of 55.46%, contrasting with Singapore’s decline of 12.17%. Additionally, Canada saw a notable growth of 20.37%, while countries like South Korea and South Africa experienced declines. Over a five-year period, trends suggest fluctuations, with China maintaining robust growth, whereas other countries showed variable performances.
Future trends in the global export of watch movements include:
- Potential continued growth in East Asian countries such as China and Japan, driven by advancements in technology and manufacturing efficiencies.
- A need for adaptation in European exporters and traditional markets to cope with growing competition and shifting demands in luxury versus functional watch segments.
- Emerging markets like Canada might seize opportunities to enhance their watch components industry.
Top countries in Export of Assembled Incomplete Movements of Watches by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 48,994,000 | 2023 | +2.45% | +4.13% | View data |
| 2 | 2 Japan | 4,321,900 | 2023 | +6.87% | +55.46% | View data |
| 3 | 3 United Kingdom | 4,207,900 | 2023 | +5.9% | +6.88% | View data |
| 4 | 4 Singapore | 1,681,800 | 2023 | -5.67% | -12.17% | View data |
| 5 | 5 Italy | 69,660 | 2023 | +4.26% | +2.19% | View data |
| 6 | 6 Canada | 16,220 | 2023 | +1.21% | +20.37% | View data |
| 7 | 7 Czech Republic | 14,340 | 2023 | +1.6% | -3.45% | View data |
| 8 | 8 South Korea | 8,880 | 2023 | +0.42% | -2.03% | View data |
| 9 | 9 Poland | 8,730 | 2023 | +5.95% | -1.78% | View data |
| 10 | 10 Thailand | 1,730 | 2023 | -9.97% | +5.47% | View data |
