In 2023, China dominated the global export market for assembled incomplete movements of watches, accounting for the largest share by a significant margin. Japan and the United Kingdom followed, although their contributions were much smaller compared to China. Notably, Japan experienced an impressive year-on-year growth rate of 55.46%, while Singapore saw a decline of 12.17% in its export value. The overall trend from 2023 suggests a mixture of growth and decline among countries, with a substantial increase in South Korea and Canada, although their total export values remain minimal.
Looking ahead, the watch industry may experience shifting dynamics due to technological advancements and changing consumer preferences. The potential increase of smartwatches could impact traditional movement exports, and countries leading in technological innovation, like China and Japan, are likely to maintain or even expand their market presence. Additionally, sustainability trends may influence manufacturing and export strategies, prompting countries with robust environmental track records to gain market leverage.
Top countries in Export of Assembled Incomplete Movements of Watches Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 88.46 | 2023 | +2.45% | +4.13% | View data |
| 2 | 2 Japan | 7.8 | 2023 | +6.87% | +55.46% | View data |
| 3 | 3 United Kingdom | 7.6 | 2023 | +5.9% | +6.88% | View data |
| 4 | 4 Singapore | 3.04 | 2023 | -5.67% | -12.17% | View data |
| 5 | 5 Italy | 0.13 | 2023 | +4.26% | +2.19% | View data |
| 6 | 6 Canada | 0.029 | 2023 | +1.21% | +20.37% | View data |
| 7 | 7 Czech Republic | 0.026 | 2023 | +1.6% | -3.45% | View data |
| 8 | 8 South Korea | 0.016 | 2023 | +0.42% | -2.03% | View data |
| 9 | 9 Poland | 0.016 | 2023 | +5.95% | -1.78% | View data |
| 10 | 10 Thailand | 0.003 | 2023 | -9.97% | +5.47% | View data |
