The import of watch straps and parts of base metal to Canada is projected to decline steadily from 2024 to 2028. The value of imports starts at $1.375 million in 2024 and reduces annually, reaching $1.2769 million by 2028. Year-on-year, this represents a gradual decrease, with an average annual decline (CAGR) over the forecast period. In 2023, the actual import value stood at $1.4 million, indicating a consistent downward trend driven by market factors.
Future trends to watch for include the impact of emerging technologies and materials in watch manufacturing, potential shifts in consumer preferences, and the effects of potential trade agreements or tariffs on the import of these components. Monitoring global economic conditions and their influence on consumer spending will also be crucial.
