Eastern Asia: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in Eastern Asia

The East Asian market for plastic or non-precious metal watches declined sharply to $X in 2022, which is down by X% against the previous year. Overall, consumption showed a pronounced curtailment. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Production of Plastic or Non-Precious Metal Watches in Eastern Asia

In value terms, plastic or non-precious metal watch production dropped to $X in 2022 estimated in export price. In general, production recorded a pronounced reduction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Plastic or Non-Precious Metal Watches

Exports in Eastern Asia

In 2022, shipments abroad of plastic or non-precious metal watches increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch exports fell to $X in 2022. Overall, exports, however, continue to indicate a perceptible decline. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, China (X units) represented the main exporter of plastic or non-precious metal watches, achieving X% of total exports. It was distantly followed by Hong Kong SAR (X units), making up a X% share of total exports.

China was also the fastest-growing in terms of the plastic or non-precious metal watches exports, with a CAGR of X% from 2012 to 2022. Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, Hong Kong SAR ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2022.

China, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, falling by X% against the previous year. Over the period under review, the export price, however, showed modest growth. The pace of growth was the most pronounced in 2015 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Imports of Plastic or Non-Precious Metal Watches

Imports in Eastern Asia

In 2022, approx. X units of plastic or non-precious metal watches were imported in Eastern Asia; with a decrease of X% compared with the previous year's figure. In general, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, plastic or non-precious metal watch imports contracted to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Hong Kong SAR represented the major importer of plastic or non-precious metal watches in Eastern Asia, with the volume of imports reaching X units, which was approx. X% of total imports in 2022. Japan (X units) took the second position in the ranking, followed by China (X units), South Korea (X units) and Macao SAR (X units). All these countries together took near X% share of total imports.

Imports into Hong Kong SAR decreased at an average annual rate of X% from 2012 to 2022. At the same time, Macao SAR (X%) and China (X%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Macao SAR (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plastic or non-precious metal watch importing markets in Eastern Asia were Hong Kong SAR ($X), China ($X) and Japan ($X), with a combined X% share of total imports. South Korea and Macao SAR lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Macao SAR, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, rising by X% against the previous year. In general, the import price recorded strong growth. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X 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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform