In 2023, the import volume of complete and assembled watch movements to Germany stood at 1.05 million items. Forecasts suggest a gradual decline in import volumes from 2024 onwards, reaching 0.86217 million items by 2028. Year-over-year percentage decreases are consistent, showcasing a steady downward trend. From 2023 to 2028, the compound annual growth rate (CAGR) highlights a negative average annual change of approximately 3.85%. This trend indicates a declining demand or shift towards domestic production or alternative products.
Future trends to watch for include:
- Technological advancements in smartwatches possibly reducing reliance on traditional watch components.
- Potential trade policy shifts impacting import costs and volume.
- Economic factors affecting consumer preferences and spending power in Germany.
- Industry innovation potentially reversing declining trends with new watch movement technologies.
