Price for Watch Cases and Parts Thereof in Hong Kong SAR - 2023

Price for Watch Cases and Parts Thereof in Hong Kong SAR (FOB) - 2022

The average export price for watch cases and parts thereoves stood at $1.6 per unit in 2022, picking up by 17% against the previous year. Overall, the export price continues to indicate a remarkable increase. The growth pace was the most rapid in 2017 an increase of 38% against the previous year. As a result, the export price reached the peak level of $2.3 per unit. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($7.7 per unit), while the average price for exports to China ($0.3 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 Taiwan (Chinese) (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Watch Cases and Parts Thereof in Hong Kong SAR (CIF) - 2023

In September 2023, the average import price for watch cases and parts thereoves amounted to $3.6 per unit, dropping by -11.3% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 an increase of 33% month-to-month. The import price peaked at $4.9 per unit in October 2022; however, from November 2022 to September 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Switzerland ($16.0 per unit), while the price for Japan ($533 per thousand units) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Switzerland (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Watch Cases and Parts Thereof in Hong Kong SAR

After three years of growth, shipments abroad of watch cases and parts thereoves decreased by -10.8% to 80M units in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +11.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +40.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 34% against the previous year. Over the period under review, the exports attained the maximum at 90M units in 2021, and then contracted in the following year.

In value terms, watch cases and parts thereof exports expanded modestly to $125M in 2022. The total export value increased at an average annual rate of +6.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 37%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Export of Watch Cases and Parts Thereof in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Switzerland	40.3	38.8	60.2	65.8	17.8%
China	20.8	17.0	19.2	17.2	-6.1%
Philippines	14.4	7.1	11.3	11.3	-7.8%
Taiwan (Chinese)	4.9	4.7	4.2	8.6	20.6%
United States	0.7	0.4	0.8	1.4	26.0%
Others	22.4	19.5	24.3	20.5	-2.9%
Total	104	87.6	120	125	6.3%

Top Export Markets for Watch Cases and Parts Thereof from Hong Kong SAR in 2022:

China (52.7M units)
Switzerland (8.5M units)
Philippines (8.1M units)
Taiwan (Chinese) (3.0M units)
United States (1.3M units)

Imports of Watch Cases and Parts Thereof in Hong Kong SAR

Watch cases and parts thereof imports into Hong Kong SAR rose sharply to 72M units in 2022, surging by 13% on 2021 figures. Overall, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +23.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +90.2% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 44% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, watch cases and parts thereof imports soared to $89M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +15.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +88.9% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 56% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.