Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines - 2022
Contents:
- Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines (CIF) - 2022
- Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines (FOB) - 2022
- Imports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines
- Exports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines
Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines (CIF) - 2022
The average import price for watches; complete movements, unassembled or partly assembled (movement sets) stood at $27 per unit in 2022, growing by 42% against the previous year. Over the period under review, the import price recorded prominent growth. The most prominent rate of growth was recorded in 2020 an increase of 83% against the previous year. The import price peaked at $33 per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Japan.
From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +15.7% per year.
Price for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines (FOB) - 2022
In 2022, the average export price for watches; complete movements, unassembled or partly assembled (movement sets) amounted to $8 per unit, with a decrease of -16.5% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 28% against the previous year. Over the period under review, the average export prices reached the peak figure at $10 per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($14 per unit), while the average price for exports to Hong Kong SAR ($6.1 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 India (+7.0%), while the prices for the other major destinations experienced a decline.
Imports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines
In 2022, imports of watches; complete movements, unassembled or partly assembled (movement sets) into the Philippines fell remarkably to 58 units, declining by -95.4% compared with the previous year. Over the period under review, imports saw a dramatic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 64%. Imports peaked at 1.5K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, imports of watches; complete movements, unassembled or partly assembled (movement sets) shrank markedly to $1.6K in 2022. Overall, imports saw a dramatic contraction. The pace of growth appeared the most rapid in 2021 with an increase of 29%. As a result, imports attained the peak of $24K, and then declined significantly in the following year.
| Import of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 8.2 | 0.1 | 0.3 | 1.6 | -42.0% |
| Taiwan (Chinese) | 6.7 | 12.2 | 15.5 | N/A | 52.1% |
| Switzerland | 1.7 | 3.4 | 6.2 | N/A | 91.0% |
| Others | 3.0 | 3.0 | 2.0 | N/A | -18.4% |
| Total | 19.7 | 18.6 | 24.0 | 1.6 | -56.7% |
Top Suppliers of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) to the Philippines in 2022:
- Japan (58.0 units)
Exports of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines
In 2022, exports of watches; complete movements, unassembled or partly assembled (movement sets) from the Philippines shrank notably to 1.4K units, with a decrease of -80.2% on 2021 figures. Overall, exports continue to indicate a dramatic downturn. The growth pace was the most rapid in 2021 when exports increased by 282%. As a result, the exports attained the peak of 6.9K units, and then contracted significantly in the following year.
In value terms, exports of watches; complete movements, unassembled or partly assembled (movement sets) dropped notably to $11K in 2022. In general, exports recorded a sharp decline. The growth pace was the most rapid in 2021 with an increase of 259% against the previous year. As a result, the exports reached the peak of $66K, and then dropped notably in the following year.
| Export of Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 12.7 | 9.6 | 26.4 | 5.3 | -25.3% |
| India | 6.1 | 2.3 | 21.2 | 3.4 | -17.7% |
| Brazil | 10.3 | 5.6 | 11.2 | 1.6 | -46.2% |
| Netherlands | 0.6 | 0.8 | 6.6 | 0.6 | 0.0% |
| Others | 1.5 | 0.2 | 1.0 | 0.1 | -59.5% |
| Total | 31.1 | 18.5 | 66.4 | 11.0 | -29.3% |
Top Export Markets for Watches; Complete Movements, Unassembled or Partly Assembled (Movement Sets) from the Philippines in 2022:
- Hong Kong SAR (858.0 units)
- India (242.0 units)
- Brazil (157.0 units)
- Netherlands (94.0 units)
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This report provides an in-depth analysis of the rough watch movements market in the Philippines.
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This report provides an in-depth analysis of the global rough watch movements market.
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This report provides an in-depth analysis of the rough watch movements market in the Philippines.
564
This report provides an in-depth analysis of the global rough watch movements market.
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