Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea - 2022
Contents:
- Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea (CIF) - 2022
- Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea (FOB) - 2022
- Imports of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea
- Exports of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea
Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea (CIF) - 2022
In 2022, the average import price for wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings amounted to $1,199 per unit, waning by -3.2% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 92% against the previous year. As a result, import price attained the peak level of $2,266 per unit. From 2020 to 2022, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Switzerland.
From 2012 to 2022, the rate of growth in terms of prices for Switzerland amounted to -0.3% per year.
Price for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea (FOB) - 2022
In 2022, the average export price for wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings amounted to $2,192 per unit, reducing by -15.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 27% against the previous year. As a result, the export price attained the peak level of $2,602 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($2,204 per unit) and Ireland ($2,202 per unit), while the average price for exports to the UK ($2,194 per unit) and Hong Kong SAR ($2,199 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea
After three years of growth, overseas purchases of wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings decreased by -2.1% to 330K units in 2022. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +22.0% 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 +81.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 43%. As a result, imports reached the peak of 337K units, and then contracted in the following year.
In value terms, imports of wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings contracted to $396M in 2022. In general, imports recorded a mild descent. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. As a result, imports attained the peak of $418M, and then contracted in the following year.
| Import of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 408 | 298 | 413 | 392 | -1.3% |
| Others | 4.0 | 3.2 | 4.5 | 4.1 | 0.8% |
| Total | 412 | 301 | 418 | 396 | -1.3% |
Top Suppliers of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding to South Korea in 2022:
- Switzerland (326.4K units)
Exports of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea
Exports of wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings from South Korea soared to 2.9K units in 2022, surging by 53% against the year before. Over the period under review, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +25.9% 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 +99.4% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 57% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in the immediate term.
In value terms, exports of wrist-watches; whether or not incorporating a stop-watch facility, with automatic windings surged to $6.3M in 2022. In general, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +25.3% 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 +96.8% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 74%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see gradual growth in years to come.
| Export of Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 2,209 | 2,447 | 1,905 | 2,657 | 6.3% |
| Hong Kong SAR | 299 | 757 | 998 | 1,597 | 74.8% |
| Japan | 8.3 | 24.7 | 13.2 | 669 | 332.0% |
| United Kingdom | 24.7 | 32.6 | 38.7 | 371 | 146.7% |
| Ireland | N/A | 73.3 | 534 | 368 | 124.1% |
| China | N/A | 1,736 | 522 | 128 | -72.8% |
| Singapore | 175 | 140 | 136 | 16.6 | -54.4% |
| Canada | 413 | 10.4 | 2.0 | 1.3 | -85.3% |
| Others | 86.8 | 390 | 743 | 522 | 81.9% |
| Total | 3,216 | 5,610 | 4,893 | 6,329 | 25.3% |
Top Export Markets for Wrist-Watches; Whether or Not Incorporating A Stop-Watch Facility, with Automatic Winding from South Korea in 2022:
- Switzerland (1207.0 units)
- Hong Kong SAR (726.0 units)
- Japan (304.0 units)
- United Kingdom (169.0 units)
- Ireland (167.0 units)
- China (58.0 units)
- Singapore (8.0 units)
- Canada (1.0 units)
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