In 2023, Canada imported complete movements of watches unassembled or partly assembled valued at $220.18 thousand. Forecast data for 2024 to 2028 show a consistent downward trend, with values decreasing annually. Year-on-year percentage decreases are as follows: 2024 sees a 9.1% drop from 2023, 2025 declines by 10.4% from the previous year, 2026 by 11.4%, 2027 by 12.6%, and 2028 sees a decline of 14.1%. The compound annual growth rate (CAGR) over these years is projected to be -9.85%, indicating a significant decline in import values.

Future trends to watch for include:

Market shifts towards advanced watch technologies potentially impacting traditional watch movement imports.
Strengthening local assembly capabilities could further reduce imports.
Global economic factors and trade policies affecting supply chain dynamics.