Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Latvia - 2023

Contents:

1. Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Latvia (CIF) - 2023
2. Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Latvia (FOB) - 2023
3. Imports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Latvia
4. Exports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Latvia

Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Latvia (CIF) - 2023

In October 2023, the average import price for pocket watches and other watches, including stop-watches; battery or accumulator powereds amounted to $48.5 per unit, surging by 8.9% against the previous month. Overall, the import price, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 332% m-o-m. As a result, import price attained the peak level of $229 per unit. From February 2023 to October 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Lithuania ($92.2 per unit), while the price for Poland ($22.8 per unit) was amongst the lowest.

From November 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Germany (+3.1%), while the prices for the other major suppliers experienced a decline.

Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Latvia (FOB) - 2023

In October 2023, the average export price for pocket watches and other watches, including stop-watches; battery or accumulator powereds amounted to $59.2 per unit, rising by 49% against the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $71.9 per unit in June 2023; however, from July 2023 to October 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In October 2023, the country with the highest price was Estonia ($97.7 per unit), while the average price for exports to Lithuania totaled $58.5 per unit.

From November 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+0.9%).

Imports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Latvia

In 2022, purchases abroad of pocket watches and other watches, including stop-watches; battery or accumulator powereds decreased by -1% to 61K units for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +15.1% 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 +52.7% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 47% against the previous year. As a result, imports attained the peak of 61K units, leveling off in the following year.

In value terms, imports of pocket watches and other watches, including stop-watches; battery or accumulator powereds declined to $3.6M in 2022. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 53%. As a result, imports attained the peak of $3.8M, and then reduced modestly in the following year.

Top Suppliers of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered to Latvia in 2022:

1. Germany (47.2K units)
2. Lithuania (8.8K units)
3. Poland (2.1K units)
4. Denmark (1.3K units)
5. China (0.1K units)

Exports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Latvia

For the fourth consecutive year, Latvia recorded growth in overseas shipments of pocket watches and other watches, including stop-watches; battery or accumulator powereds, which increased by 2.5% to 42K units in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 94% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of pocket watches and other watches, including stop-watches; battery or accumulator powereds contracted significantly to $2.1M in 2022. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 93% against the previous year. Over the period under review, the exports of attained the maximum at $2.5M in 2021, and then fell rapidly in the following year.

Top Export Markets for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered from Latvia in 2022:

1. Lithuania (39.6K units)
2. Estonia (1.8K units)

Source: IndexBox Market Intelligence Platform