As of 2024, Switzerland leads the export of watches with cases of precious metal with a substantial value of $6.39 billion, highlighting its dominance in the market. Hong Kong and France follow with exports valued at $1.24 billion and $1.08 billion, respectively. Notably, Singapore, the UK, and Italy also contribute significantly, with exports ranging between approximately $0.5 billion to $0.77 billion.
In 2023, there was a growth trend in exports for major players, especially from Switzerland, marking it as a robust year for the industry. Year-on-year trends have shown fluctuations, with the most notable being consistent growth in Switzerland and Asia. Over the past five years, the CAGR has indicated moderate growth in the industry, reflective of stable market expansions and consumer demand for luxury and mid-range watches.
Future trends to monitor include:
- Increasing demand in emerging markets driving additional exports.
- Technological advancements promoting high-tech luxury watches.
- Fluctuations in precious metal prices affecting production costs and pricing strategies.
- Shifts in consumer preferences towards sustainable and ethically-crafted watches.
Top countries in Top Exporters of Watches With Case of Precious Metal or of Metal Clad With Precious Metal
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 Switzerland | 6,390 | 2016 | |
| 2 | 2 Hong Kong | 1,240 | 2016 | |
| 3 | 3 France | 1,080 | 2016 | |
| 4 | 4 Singapore | 773.17 | 2016 | |
| 5 | 5 United Kingdom | 651.76 | 2016 | |
| 6 | 6 Italy | 584.65 | 2016 | |
| 7 | 7 Germany | 538.62 | 2016 | |
| 8 | 8 United States | 427.17 | 2016 | |
| 9 | 9 United Arab Emirates | 286.76 | 2016 | |
| 10 | 10 China | 147.41 | 2016 |
