In 2023, the United Kingdom led the European production value of watches, clocks, and jewelry repair with 112.8 million euros, showing a growth of 3.94% from the previous year. Spain recorded the most significant surge, increasing by 14.47%, while Greece experienced a stark decline of 29.31%. Germany and France also saw decreases of 6.66% and 6.38%, respectively. Over the five-year period, trends show varied annual growth across countries, with larger economies facing modest contractions and smaller economies like Belgium and Bosnia and Herzegovina experiencing noticeable growth.
Looking ahead, factors influencing future trends include technological innovations in luxury watchmaking, increased consumer interest in unique and bespoke jewelry, and eco-friendly production practices. Economic stability and exchange rate fluctuations across European countries will also significantly impact the growth and investment strategies in this sector, especially in the United Kingdom and emerging markets like Poland and Portugal.
Top countries in Production Value of Watches, Clocks and Jewellery Repair by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 112.8 | 2023 | +2.08% | +3.94% | View data |
| 2 | 2 France | 50.5 | 2023 | -12.17% | -6.38% | View data |
| 3 | 3 Italy | 47.4 | 2023 | +2.6% | -2.39% | View data |
| 4 | 4 Germany | 37.7 | 2023 | -2.84% | -6.66% | View data |
| 5 | 5 Spain | 22.5 | 2023 | +8.7% | +14.47% | View data |
| 6 | 6 Poland | 12.2 | 2023 | -4.69% | -5.51% | View data |
| 7 | 7 Portugal | 7.9 | 2023 | +12.86% | -1.91% | View data |
| 8 | 8 Sweden | 7.2 | 2023 | +4.35% | +0.57% | View data |
| 9 | 9 Belgium | 5.5 | 2023 | +1.85% | +6.05% | View data |
| 10 | 10 Hungary | 5.3 | 2023 | 0% | -1.44% | View data |
