The global export market for complete movements of watches, unassembled or partly assembled, displays notable country-wise variations. As of 2023, Thailand leads with substantial export value, although it experienced a minor decline of 3.23%. Singapore trails as the second-largest exporter with a positive growth trend of 1.87%. The United Kingdom and Malaysia show solid positive growth rates, at 9.21% and 4.61% respectively. However, Switzerland faced a significant drop of 28.6%, indicating potential challenges. Japan's exports drastically fell by 53.55%, aligning with a broader contraction in Asia, including China's 19.32% decrease.
Key points:
- Emerging players include the Czech Republic with an astounding 214.95% increase and Denmark with 275.44% growth, suggesting shifting dynamics.
- Traditional markets like the United States and Italy exhibit moderate fluctuations, indicating stable consumption patterns.
- Countries with declining trends such as Belgium, Spain, and Poland may need strategic realignment to regain momentum.
Future trends to watch involve technological advancements in watch manufacturing and assembly processes, potentially impacting exports. Additionally, supply chain optimizations and evolving consumer preferences in luxury goods could redefine competitive standings and reshape market shares globally.
Top countries in Export of Complete Movements of Watches Unassembled or Partly Assembled by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Thailand | 22,766,000 | 2023 | -4.96% | -3.23% | View data |
| 2 | 2 Singapore | 12,526,000 | 2023 | +1.92% | +1.87% | View data |
| 3 | 3 United Kingdom | 4,685,600 | 2023 | +3.68% | +9.21% | View data |
| 4 | 4 Malaysia | 4,070,100 | 2023 | +0.39% | +4.61% | View data |
| 5 | 5 Switzerland | 2,614,500 | 2023 | -49.51% | -28.6% | View data |
| 6 | 6 United States | 2,532,600 | 2023 | -4.38% | -3.49% | View data |
| 7 | 7 South Korea | 2,431,500 | 2023 | +3.47% | +4.96% | View data |
| 8 | 8 United Arab Emirates | 1,474,900 | 2023 | +2.87% | +1.31% | View data |
| 9 | 9 Japan | 840,040 | 2023 | -87.89% | -53.55% | View data |
| 10 | 10 China | 764,780 | 2023 | -28.24% | -19.32% | View data |
