South Africa - Precious Metal Watches - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrecious Metal Watch Price in South Africa - 2023
Contents:
- Precious Metal Watch Price in South Africa (CIF) - 2022
- Precious Metal Watch Price in South Africa (FOB) - 2022
- Precious Metal Watch Imports in South Africa
- Precious Metal Watch Exports in South Africa
Precious Metal Watch Price in South Africa (CIF) - 2022
In 2022, the average precious metal watch import price amounted to $308 per unit, with a decrease of -11% against the previous year. Overall, the import price, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2016 an increase of 758%. Over the period under review, average import prices reached the peak figure at $848 per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($430 per unit), while the price for Hong Kong SAR ($41 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+27.1%), while the prices for the other major suppliers experienced a decline.
Precious Metal Watch Price in South Africa (FOB) - 2022
In 2022, the average precious metal watch export price amounted to $48 per unit, declining by -34% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 59%. Over the period under review, the average export prices hit record highs at $73 per unit in 2021, and then declined rapidly in the following year.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($89 per unit), while the average price for exports to Tanzania ($5 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.
Precious Metal Watch Imports in South Africa
In 2022, the amount of precious metal watches imported into South Africa dropped to 82K units, approximately equating the previous year's figure. Over the period under review, imports, however, saw a significant increase. The growth pace was the most rapid in 2021 when imports increased by 143% against the previous year. As a result, imports attained the peak of 83K units, leveling off in the following year.
In value terms, precious metal watch imports declined to $25M in 2022. Overall, imports recorded a deep downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 33%. Over the period under review, imports hit record highs at $32M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
Import of Precious Metal Watch in South Africa (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Switzerland | 27.2 | 18.1 | 24.5 | 22.2 | -6.5% |
China | 2.5 | 1.9 | 2.3 | 1.6 | -13.8% |
Hong Kong SAR | 0.2 | 0.2 | 0.3 | 0.2 | 0.0% |
Others | 2.1 | 1.3 | 1.4 | 1.2 | -17.0% |
Total | 32.0 | 21.4 | 28.6 | 25.3 | -7.5% |
Top Suppliers of Precious Metal Watch to South Africa in 2022:
- Switzerland (51.7K units)
- China (14.4K units)
- Hong Kong SAR (5.4K units)
Precious Metal Watch Exports in South Africa
After three years of growth, shipments abroad of precious metal watches decreased by -60.4% to 110K units in 2022. Overall, exports saw a slight setback. The growth pace was the most rapid in 2020 with an increase of 108%. The exports peaked at 278K units in 2021, and then dropped significantly in the following year.
In value terms, precious metal watch exports dropped remarkably to $5.3M in 2022. In general, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2020 with an increase of 76% against the previous year. The exports peaked at $20M in 2021, and then fell dramatically in the following year.
Export of Precious Metal Watch in South Africa (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Singapore | 0.1 | 0.3 | 0.9 | 1.7 | 157.1% |
Namibia | 0.7 | 0.5 | 0.4 | 0.6 | -5.0% |
Zambia | 0.1 | 0.1 | 0.2 | 0.5 | 71.0% |
Hong Kong SAR | 4.2 | 11.3 | 15.1 | 0.5 | -50.8% |
United States | 0.2 | 0.8 | 1.6 | 0.4 | 26.0% |
Mauritius | 0.2 | N/A | N/A | 0.2 | 0.0% |
Germany | 1.1 | 0.2 | N/A | 0.2 | -43.3% |
Swaziland | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
Switzerland | 0.5 | 0.2 | 1.1 | 0.1 | -41.5% |
Nigeria | N/A | N/A | N/A | 0.1 | 0% |
Others | 1.0 | 0.7 | 0.8 | 0.9 | -3.5% |
Total | 8.1 | 14.3 | 20.2 | 5.3 | -13.2% |
Top Export Markets for Precious Metal Watch from South Africa in 2022:
- Singapore (19.2K units)
- Zambia (19.2K units)
- Nigeria (18.9K units)
- Swaziland (12.6K units)
- Mauritius (9.6K units)
- Namibia (6.8K units)
- Hong Kong SAR (5.9K units)
- United States (5.0K units)
- Germany (1.8K units)
- Switzerland (1.4K units)
This report provides an in-depth analysis of the precious metal watch market in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
Country coverage:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In May 2023, the Watch price in South Africa stood at $2.7 per unit (CIF), showing a decrease of -12.2% compared to the previous month.
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