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Republic of Korea - Precious Metal Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Precious Metal Watch Market 2024
Precious Metal Watch Market Size in Republic of Korea
The South Korean precious metal watch market expanded notably to $X in 2022, with an increase of X% against the previous year. In general, consumption enjoyed a buoyant increase. Precious metal watch consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.
Precious Metal Watch Production in Republic of Korea
In value terms, precious metal watch production rose markedly to $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The growth pace was the most rapid in 2013 when the production volume increased by X%. Precious metal watch production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.
Precious Metal Watch Exports
Exports from Republic of Korea
After two years of growth, overseas shipments of precious metal watches decreased by X% to X units in 2022. Overall, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at X units in 2021, and then fell markedly in the following year.
In value terms, precious metal watch exports plummeted to $X in 2022. In general, exports, however, showed prominent growth. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.
Exports by Country
Switzerland (X units), Hong Kong SAR (X units) and China (X units) were the main destinations of precious metal watch exports from South Korea, together accounting for X% of total exports. France, Singapore, Ireland and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.
From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Switzerland ($X), Hong Kong SAR ($X) and China ($X) constituted the largest markets for precious metal watch exported from South Korea worldwide, with a combined X% share of total exports. France, Singapore, Ireland and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.
Ireland, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2022, the average precious metal watch export price amounted to $X per unit, waning by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per unit, and then dropped markedly in the following year.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per unit) and Hong Kong SAR ($X per unit), while the average price for exports to Ireland ($X per unit) and Taiwan (Chinese) ($X 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 Ireland (X%), while the prices for the other major destinations experienced more modest paces of growth.
Precious Metal Watch Imports
Imports into Republic of Korea
In 2022, purchases abroad of precious metal watches increased by X% to X units, rising for the fifth consecutive year after three years of decline. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, precious metal watch imports expanded sharply to $X in 2022. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
Imports by Country
In 2022, Switzerland (X units) was the main precious metal watch supplier to South Korea, accounting for a X% share of total imports. It was followed by Germany (X units), with a X% share of total imports.
From 2012 to 2022, the average annual growth rate of volume from Switzerland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the United States (X% per year).
In value terms, Switzerland ($X) constituted the largest supplier of precious metal watches to South Korea, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports.
From 2012 to 2022, the average annual growth rate of value from Switzerland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the United States (X% per year).
Import Prices by Country
The average precious metal watch import price stood at $X per unit in 2022, reducing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the precious metal watch market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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