In 2023, the import value of clocks, watches, and parts thereof to Vietnam stood at 127.4 million USD. The forecasted data from 2024 onward shows a consistent growth in import values, starting at 132.7 million USD in 2024 and reaching 153.83 million USD by 2028. Year-on-year, the import value is expected to increase by approximately 4.11% from 2024 to 2025 and 3.75% from 2025 to 2026. The Compound Annual Growth Rate (CAGR) over the forecasted five-year period is around 3.78%.
Future trends to watch for include the increasing demand for luxury and smartwatches in Vietnam, driven by rising disposable incomes and technological advancements. Additionally, potential trade agreements and changes in import tariffs could significantly impact these trends. Keep an eye on the competitive landscape as local and international brands strive to capture market share.
