Based on the provided forecast data, the import of complete and assembled watch movements to Thailand is expected to grow steadily from $14.494 million in 2024 to $15.718 million in 2028. In 2023, this value stood at $14.198 million. The year-on-year percentage variations from 2024 to 2028 indicate a consistent upward trend with year-over-year increases of approximately 2.2%, 2.09%, 2%, and 1.92%, respectively. The Compound Annual Growth Rate (CAGR) over this five-year period is estimated to be around 2.12%.
Future trends to watch for include advancements in watchmaking technologies, changes in consumer preferences towards luxury and smartwatches, and potential fluctuations in trade policies that might affect import costs. The global shift towards digitalization and connected devices could also influence market dynamics and demand patterns in Thailand. Monitoring these factors will be crucial for maintaining a competitive position in the watch movements market.
