The market for watches with cases of precious metal or clad with precious metal in Norway has seen fluctuations over the past decade, with a value of 60.258 million USD in 2023. A notable decline occurred in 2015 with a 15.3% drop, followed by substantial recovery peaking in 2017 at a 25.03% increase. More recent years have shown more stability, with modest growth seen from 2020 onwards, culminating in a 2.4% increase from 2022 to 2023. The five-year CAGR, as of 2023, remains modest at 2.23%, reflecting a trend towards gradual recovery and stability.
- Future trends should consider:
- Shifts in consumer preference towards luxury items.
- Impact of digitalization and smart technology on traditional watch markets.
- Economic factors influencing disposable income and luxury spending.
- Potential impact of sustainability and ethical sourcing on luxury goods demand.
| # | 14 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 3,818,700,000 | 2023 | +1.27% | +1.97% | View data |
| 2 | 2 Japan | 3,255,700,000 | 2023 | +0.16% | +1.4% | View data |
| 3 | 3 Italy | 2,016,700,000 | 2023 | -1.6% | -3.57% | View data |
| 4 | 4 South Korea | 812,160,000 | 2023 | +5.72% | +8.27% | View data |
| 5 | 5 Canada | 437,340,000 | 2023 | +1.57% | +1.93% | View data |
| 10 | 10 Poland | 90,456,000 | 2023 | +4.57% | +4.02% | View data |
| 11 | 11 Denmark | 87,234,000 | 2023 | +2.46% | +3.15% | View data |
| 12 | 12 Norway | 60,258,000 | 2023 | +2.4% | +2.23% | |
| 13 | 13 Morocco | 30,431,000 | 2023 | -0.96% | -0.54% | View data |
| 14 | 14 Botswana | 573,600 | 2023 | -0.24% | +1.35% | View data |
