The Moroccan market for watches with cases of precious metal or clad with precious metal stood at 30.431 million US dollars in 2023. The market experienced fluctuations over the past decade, with a noticeable decline starting in 2017. The year-on-year variation for 2023 showed a slight decrease of 0.96%, with a five-year compound annual growth rate (CAGR) of -0.54%. This indicates a recent stabilization after previous volatility. The market size eroded notably in 2018 and 2020, driven by economic uncertainties and changing consumer preferences.
Future trends to observe include:
- Increasing consumer interest in luxury and customizable timepieces, potentially boosting demand.
- The impact of digital and smart technologies on traditional watch value propositions.
- Potential market recovery or stabilization influenced by global economic conditions and fashion trends.
| # | 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 |
| 11 | 11 Denmark | 87,234,000 | 2023 | +2.46% | +3.15% | View data |
| 12 | 12 Norway | 60,258,000 | 2023 | +2.4% | +2.23% | View data |
| 13 | 13 Morocco | 30,431,000 | 2023 | -0.96% | -0.54% | |
| 14 | 14 Botswana | 573,600 | 2023 | -0.24% | +1.35% | View data |
