For the forecasted import values of clocks, watches, and their parts in China, starting from 2024 onwards, the data indicates a consistent upward trend. In 2024, imports are expected to reach $6.59 billion, increasing to $7.67 billion by 2028. This represents a compound annual growth rate (CAGR) of approximately 3.85% over the five-year period. In 2023, the actual import value stood at $6.32 billion.
The year-on-year growth rates are as follows:
- From 2024 to 2025: 4.10%
- From 2025 to 2026: 3.94%
- From 2026 to 2027: 3.78%
- From 2027 to 2028: 3.65%
This steady increase suggests a healthy and growing demand for imported clocks, watches, and their parts.
Future trends to watch for include technological advancements in smartwatches, a growing middle class with increased disposable income, and a burgeoning interest in luxury and brand-name timepieces, which may further drive import growth.
