In 2023, the import of parts of watch cases to China stood at a higher value than the forecasted figures for the upcoming years. From 2024 to 2028, there is a steady decline in the volume of imports. The year-on-year variation shows a consistent decrease, with significant reductions noted yearly, indicative of dwindling demand or increased local production capabilities.
- 2024 to 2025: Expected decrease of approximately 10.8%.
- 2025 to 2026: Projected decline of about 11.9%.
- 2026 to 2027: Forecasted reduction of 13.2%.
- 2027 to 2028: Anticipated drop of 14.9%.
The five-year CAGR for 2024-2028 suggests an average annual decrease of around 12.2%, highlighting a significant downward trend in imports over this medium-term horizon.
Future trends to watch for include the impact of Chinese watch manufacturing expansion, potential shifts in consumer preferences towards locally produced watches, and any economic policies that could affect import tariffs and trade agreements. Additionally, technological advancements in local watchmaking may further reduce the need for imported components.
