In 2023, Japan led the global export market of rough movements of watches with significant dominance, accounting for the largest share by value, followed by Switzerland and China. Malaysia and Singapore are positioned next, with the United States trailing behind. The United Kingdom and Thailand also held small shares, while the Netherlands' presence was minimal.
Year-on-year growth in 2023 revealed Switzerland and Malaysia achieved notable percentage increases, keeping pace with Japan’s robust growth. Thailand and the Netherlands, though small contributors, showed remarkable growth rates. Singapore experienced a decline contrarily. The compounded annual growth rate (CAGR) over the last five years highlights Japan's consistent market leadership.
Future trends indicate a shift towards a more diversified export landscape. Emerging technologies and evolving consumer preferences are expected to influence countries like China and Malaysia to capture increased market share. Sustainability concerns and innovation in watch technology may reshape this industry’s export dynamics further.
Top countries in Export of Rough Movements of Watches Share by Country (US Dollars)
| # | 9 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Japan | 55.14 | 2023 | +3.98% | +5.45% | View data |
| 2 | 2 Switzerland | 15.28 | 2023 | +5% | +5.53% | View data |
| 3 | 3 China | 10.79 | 2023 | +0.99% | +5.07% | View data |
| 4 | 4 Malaysia | 8.81 | 2023 | +5.04% | +5.76% | View data |
| 5 | 5 Singapore | 3.11 | 2023 | +1.42% | -6.14% | View data |
| 6 | 6 United States | 2.41 | 2023 | +6.01% | +3.47% | View data |
| 7 | 7 United Kingdom | 0.36 | 2023 | +3.46% | +3.28% | View data |
| 8 | 8 Thailand | 0.31 | 2023 | +2.96% | +9.42% | View data |
| 9 | 9 Netherlands | 0.025 | 2023 | +4.86% | +11.49% | View data |
