Japan leads the global export of watch movements with a significant margin, holding 51.78% share in 2023 despite a 2.66% decline from the previous year. Switzerland follows with a 22.21% share, also experiencing a slight contraction of 1.39%. China occupies the third position with a 13.87% share but faced a notable drop of 10.18%. France and the Netherlands have shown positive growth at 4.19% and 2.61%, respectively. The United States, Malaysia, and Germany have all witnessed declines. Denmark and Croatia showed remarkable growth among smaller players with increases of 125.14% and 119.68% respectively.
For future trends, technological advancements in smartwatches could significantly impact traditional watch movements, driving countries to adapt their exports. Watch movement innovation may help recover declining markets like Japan and Switzerland. Sustainability and custom design trends are expected to shape future demand, requiring exporters to adjust their strategies to capture evolving consumer preferences.
Top countries in Export of Watch Movements, Complete and Assembled Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Japan | 51.78 | 2023 | -2.23% | -2.66% | View data |
| 2 | 2 Switzerland | 22.21 | 2023 | +0.043% | -1.39% | View data |
| 3 | 3 China | 13.87 | 2023 | -8.63% | -10.18% | View data |
| 4 | 4 France | 6.04 | 2023 | +3.76% | +4.19% | View data |
| 5 | 5 Netherlands | 3.11 | 2023 | +1.99% | +2.61% | View data |
| 6 | 6 Malaysia | 2.36 | 2023 | -0.31% | -5.05% | View data |
| 7 | 7 United States | 1.82 | 2023 | -4.92% | -3.81% | View data |
| 8 | 8 Italy | 1.65 | 2023 | +4.42% | +4.81% | View data |
| 9 | 9 United Kingdom | 0.99 | 2023 | -0.093% | -1.3% | View data |
| 10 | 10 Germany | 0.58 | 2023 | +0.29% | -0.022% | View data |
