Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Malaysia - 2024

Contents:

1. Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Malaysia (FOB) - 2022
2. Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Malaysia (CIF) - 2022
3. Exports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Malaysia
4. Imports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Malaysia

Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Malaysia (FOB) - 2022

The average export price for watches; complete movements, unassembled or partly assembled (movement sets) stood at $37 per unit in 2022, rising by 40% against the previous year. Over the period under review, the export price, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 74%. As a result, the export price reached the peak level of $104 per unit. From 2014 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 Hong Kong SAR ($83 per unit), while the average price for exports to Singapore stood at $32 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+6.0%).

Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Malaysia (CIF) - 2022

In 2022, the average import price for watches; complete movements, unassembled or partly assembled (movement sets) amounted to $14 per unit, jumping by 26% against the previous year. Overall, the import price enjoyed a measured expansion. The pace of growth appeared the most rapid in 2015 an increase of 187% against the previous year. Over the period under review, average import prices reached the peak figure at $50 per unit in 2016; however, from 2017 to 2022, 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 Singapore ($94 per unit), while the price for Japan ($1.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-0.1%), while the prices for the other major suppliers experienced a decline.

Exports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Malaysia

In 2022, shipments abroad of watches; complete movements, unassembled or partly assembled (movement sets) decreased by -89.9% to 87K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 358%. Over the period under review, the exports of hit record highs at 861K units in 2021, and then declined rapidly in the following year.

In value terms, exports of watches; complete movements, unassembled or partly assembled (movement sets) shrank notably to $3.3M in 2022. In general, exports recorded a pronounced shrinkage. The growth pace was the most rapid in 2020 with an increase of 195%. Over the period under review, the exports of reached the peak figure at $23M in 2021, and then shrank notably in the following year.

Top Export Markets for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) from Malaysia in 2022:

1. Singapore (77.8K units)
2. Hong Kong SAR (8.4K units)

Imports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in Malaysia

In 2022, the amount of watches; complete movements, unassembled or partly assembled (movement sets) imported into Malaysia expanded significantly to 108K units, with an increase of 14% against 2021. Overall, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +7.2% 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 +100.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 75% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, imports of watches; complete movements, unassembled or partly assembled (movement sets) skyrocketed to $1.5M in 2022. Over the period under review, total imports indicated a perceptible increase from 2019 to 2022: its value increased at an average annual rate of +4.3% 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 +95.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) to Malaysia in 2022:

1. China (51.0K units)
2. Panama (23.3K units)
3. Hong Kong SAR (17.4K units)
4. Singapore (7.7K units)
5. Switzerland (3.4K units)
6. United Kingdom (2.5K units)
7. Japan (2.0K units)

Source: IndexBox Market Intelligence Platform