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

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

The average export price for watch movements; complete and assembleds stood at $858 per unit in 2022, increasing by 30% against the previous year. Over the period under review, the export price enjoyed significant growth. The pace of growth appeared the most rapid in 2014 an increase of 102%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($1,831 per unit), while the average price for exports to the UK ($271 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 the United Arab Emirates (+38.3%), while the prices for the other major destinations experienced more modest paces of growth.

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

In 2022, the average import price for watch movements; complete and assembleds amounted to $33 per unit, standing approx. at the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 an increase of 52%. As a result, import price attained the peak level of $35 per unit. From 2019 to 2022, the average import prices failed to regain momentum.

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 the Netherlands ($247 per unit), while the price for China ($2.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Watch Movements; Complete and Assembled in Italy

Watch movements; complete and assembled exports from Italy was estimated at 30K units in 2022, picking up by 9.6% on the previous year. Over the period under review, total exports indicated slight growth from 2019 to 2022: its volume increased at an average annual rate of +1.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 44% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, watch movements; complete and assembled exports skyrocketed to $26M in 2022. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 55%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Export of Watch Movements; Complete and Assembled in Italy (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hong Kong SAR	4.7	5.2	7.1	9.6	26.9%
United States	1.5	1.5	1.8	3.5	32.6%
United Kingdom	N/A	N/A	3.8	3.3	-13.2%
Switzerland	0.8	0.8	0.8	1.2	14.5%
United Arab Emirates	0.1	N/A	0.1	0.8	100.0%
Serbia	N/A	N/A	N/A	0.8	0%
Japan	0.6	0.6	1.1	0.8	10.1%
Australia	0.1	0.1	0.6	0.7	91.3%
Netherlands	2.3	1.4	N/A	0.4	-44.2%
Others	1.3	2.1	2.8	4.9	55.6%
Total	11.4	11.8	18.2	26.0	31.6%

Top Export Markets for Watch Movements; Complete and Assembled from Italy in 2022:

United Kingdom (12.1K units)
Hong Kong SAR (5.2K units)
Switzerland (3.1K units)
United Arab Emirates (2.2K units)
Australia (1.7K units)
Netherlands (1.4K units)
Serbia (1.1K units)
United States (0.9K units)
Japan (0.8K units)

Imports of Watch Movements; Complete and Assembled in Italy

In 2022, approx. 150K units of watch movements; complete and assembleds were imported into Italy; which is down by -18.9% on the previous year's figure. Overall, imports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 23% against the previous year. As a result, imports attained the peak of 185K units, and then contracted markedly in the following year.

In value terms, watch movements; complete and assembled imports contracted notably to $4.9M in 2022. Over the period under review, imports showed a pronounced descent. The pace of growth appeared the most rapid in 2021 when imports increased by 23% against the previous year. As a result, imports reached the peak of $6.1M, and then declined rapidly in the following year.

Import of Watch Movements; Complete and Assembled in Italy (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Switzerland	2,638	2,728	3,584	3,129	5.9%
Netherlands	2,395	1,561	1,690	1,064	-23.7%
Austria	4.7	5.9	6.9	256	279.1%
China	141	109	285	185	9.5%
Malaysia	32.9	79.7	9.4	89.6	39.6%
Japan	120	185	103	71.4	-15.9%
Hong Kong SAR	57.2	118	57.6	33.6	-16.3%
Thailand	28.3	25.6	15.4	18.3	-13.5%
Others	27.9	116	320	49.0	20.7%
Total	5,445	4,928	6,072	4,896	-3.5%