Price for Watch Movements; Complete and Assembled in Azerbaijan - 2023

Price for Watch Movements; Complete and Assembled in Azerbaijan (CIF) - 2022

In 2022, the average import price for watch movements; complete and assembleds amounted to $74 per unit, growing by 113% against the previous year. Overall, the import price saw a temperate increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by 1,033%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($84 per unit), while the price for Belgium ($15 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+16.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Watch Movements; Complete and Assembled in Azerbaijan (FOB) - 2022

The average export price for watch movements; complete and assembleds stood at $3 per unit in 2022, growing by 15% against the previous year. In general, the export price continues to indicate a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Georgia.

From 2018 to 2022, the rate of growth in terms of prices for Georgia amounted to +31.6% per year.

Imports of Watch Movements; Complete and Assembled in Azerbaijan

In 2022, overseas purchases of watch movements; complete and assembleds decreased by -48.4% to 99 units, falling for the second consecutive year after two years of growth. Overall, imports saw a precipitous contraction. The pace of growth was the most pronounced in 2020 when imports increased by 878%. As a result, imports attained the peak of 2.7K units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, watch movements; complete and assembled imports amounted to $7.3K in 2022. Over the period under review, imports continue to indicate a dramatic setback. Over the period under review, imports reached the maximum at $17K in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Watch Movements; Complete and Assembled in Azerbaijan (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Switzerland	5.1	3.3	4.5	6.8	10.1%
Japan	N/A	0.1	0.2	0.3	73.2%
Belgium	N/A	N/A	N/A	0.2	0%
China	6.7	0.2	0.4	0.1	-75.4%
United Arab Emirates	N/A	3.6	N/A	N/A	0%
Iran	N/A	N/A	0.1	N/A	0%
Others	5.0	0.9	1.4	N/A	-47.1%
Total	16.8	8.1	6.7	7.3	-24.3%

Top Suppliers of Watch Movements; Complete and Assembled to Azerbaijan in 2022:

Switzerland (81.0 units)
Belgium (10.0 units)
Japan (5.0 units)
China (3.0 units)

Exports of Watch Movements; Complete and Assembled in Azerbaijan

In 2022, the amount of watch movements; complete and assembleds exported from Azerbaijan contracted notably to 2 units, waning by -60% against the year before. Over the period under review, exports saw a dramatic decline. The exports peaked at 5 units in 2021, and then shrank notably in the following year.

In value terms, watch movements; complete and assembled exports shrank markedly to $6 in 2022. Overall, exports saw a dramatic curtailment. Over the period under review, the exports reached the peak figure at $13 in 2021, and then contracted significantly in the following year.