Price for Watches; Incomplete Movements, Assembled in Hong Kong SAR - 2023

Contents:

1. Price for Watches; Incomplete Movements, Assembled in Hong Kong SAR (FOB) - 2023
2. Price for Watches; Incomplete Movements, Assembled in Hong Kong SAR (CIF) - 2023
3. Exports of Watches; Incomplete Movements, Assembled in Hong Kong SAR
4. Imports of Watches; Incomplete Movements, Assembled in Hong Kong SAR

Price for Watches; Incomplete Movements, Assembled in Hong Kong SAR (FOB) - 2023

In September 2023, the average watches; incomplete movements, assembled export price amounted to $2,958 per unit, with an increase of 13% against the previous month. Over the period under review, export price indicated a tangible expansion from September 2022 to September 2023: its price increased at an average monthly rate of +2.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, watches; incomplete movements, assembled export price increased by +13.5% against August 2023 indices. The pace of growth appeared the most rapid in January 2023 when the average export price increased by 70% m-o-m. The export price peaked in September 2023.

There were significant differences in the average prices for the major overseas markets. In September 2023, the country with the highest price was China ($7,603 per unit), while the average price for exports to Japan totaled $2,531 per unit.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+27.0%).

Price for Watches; Incomplete Movements, Assembled in Hong Kong SAR (CIF) - 2023

In September 2023, the average watches; incomplete movements, assembled import price amounted to $2,560 per unit, declining by -1.7% against the previous month. In general, the import price, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in December 2022 an increase of 301% month-to-month. Over the period under review, average import prices hit record highs at $3,082 per unit in May 2023; afterwards, it flattened through to September 2023.

As there is only one major supplying country, the average price level is determined by prices for China.

From September 2022 to September 2023, the rate of growth in terms of prices for China amounted to +5.2% per month.

Exports of Watches; Incomplete Movements, Assembled in Hong Kong SAR

Watches; incomplete movements, assembled exports from Hong Kong SAR declined to 6.2K units in 2022, with a decrease of -6.3% compared with the previous year. Over the period under review, exports continue to indicate a significant decline. The smallest decline of -5.2% was in 2021. Over the period under review, the exports attained the maximum at 36K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, watches; incomplete movements, assembled exports contracted remarkably to $11M in 2022. Overall, exports showed a dramatic decrease. The pace of growth was the most pronounced in 2021 when exports increased by 16% against the previous year. The exports peaked at $29M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Top Export Markets for Watches; Incomplete Movements, Assembled from Hong Kong SAR in 2022:

1. Japan (3.8K units)
2. China (2.2K units)
3. United States (0.2K units)

Imports of Watches; Incomplete Movements, Assembled in Hong Kong SAR

In 2022, after two years of decline, there was significant growth in overseas purchases of watches; incomplete movements, assembleds, when their volume increased by 21% to 6.3K units. Over the period under review, imports, however, continue to indicate a deep contraction. Imports peaked at 8.1K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, watches; incomplete movements, assembled imports dropped to $12M in 2022. Overall, imports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 1.3%. Imports peaked at $15M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Top Suppliers of Watches; Incomplete Movements, Assembled to Hong Kong SAR in 2022:

1. China (6.3K units)

Source: IndexBox Market Intelligence Platform