Price for Watch Movements; Complete and Assembled in South Africa - 2023
Contents:
- Price for Watch Movements; Complete and Assembled in South Africa (CIF) - 2022
- Price for Watch Movements; Complete and Assembled in South Africa (FOB) - 2022
- Imports of Watch Movements; Complete and Assembled in South Africa
- Exports of Watch Movements; Complete and Assembled in South Africa
Price for Watch Movements; Complete and Assembled in South Africa (CIF) - 2022
In 2022, the average import price for watch movements; complete and assembleds amounted to $13 per unit, shrinking by -8.9% against the previous year. Over the period under review, the import price, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2018 an increase of 156% against the previous year. As a result, import price reached the peak level of $28 per unit. From 2019 to 2022, the average 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 Arab Emirates ($126 per unit), while the price for Japan ($3.8 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 Arab Emirates (+66.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Watch Movements; Complete and Assembled in South Africa (FOB) - 2022
The average export price for watch movements; complete and assembleds stood at $1.2 per unit in 2022, reducing by -97.9% against the previous year. In general, the export price showed a sharp setback. The pace of growth appeared the most rapid in 2018 when the average export price increased by 115%. As a result, the export price reached the peak level of $74 per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Swaziland ($23 per unit), while the average price for exports to Italy ($0.1 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 Swaziland (-4.7%), while the prices for the other major destinations experienced a decline.
Imports of Watch Movements; Complete and Assembled in South Africa
In 2022, the amount of watch movements; complete and assembleds imported into South Africa soared to 39K units, picking up by 51% against the previous year. In general, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of 103% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, watch movements; complete and assembled imports surged to $489K in 2022. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +5.9% 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 +71.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Watch Movements; Complete and Assembled in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 280 | 212 | 241 | 276 | -0.5% |
| China | 26.8 | 20.7 | 44.3 | 105 | 57.6% |
| Japan | 46.1 | 26.1 | 33.3 | 44.6 | -1.1% |
| Thailand | 7.2 | 5.2 | 5.2 | 8.5 | 5.7% |
| Hong Kong SAR | 4.7 | 2.8 | 5.1 | 8.2 | 20.4% |
| Others | 46.5 | 18.3 | 27.6 | 47.1 | 0.4% |
| Total | 412 | 285 | 356 | 489 | 5.9% |
Top Suppliers of Watch Movements; Complete and Assembled to South Africa in 2022:
- China (19.2K units)
- Japan (11.7K units)
- Switzerland (3.7K units)
- Thailand (1.6K units)
- Hong Kong SAR (0.7K units)
Exports of Watch Movements; Complete and Assembled in South Africa
In 2022, after two years of decline, there was significant growth in shipments abroad of watch movements; complete and assembleds, when their volume increased by 2,482% to 14K units. In general, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, watch movements; complete and assembled exports plummeted to $17K in 2022. Overall, exports, however, recorded a precipitous shrinkage. The exports peaked at $160K in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
| Export of Watch Movements; Complete and Assembled in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 55.3 | 38.9 | 14.0 | 10.9 | -41.8% |
| Italy | N/A | N/A | N/A | 2.1 | 0% |
| Mauritius | 37.5 | 1.8 | 1.7 | 0.6 | -74.8% |
| Switzerland | 35.6 | 3.2 | N/A | N/A | -91.0% |
| Others | 31.3 | 29.2 | 16.1 | 4.0 | -49.6% |
| Total | 160 | 73.2 | 31.8 | 17.5 | -52.2% |
Top Export Markets for Watch Movements; Complete and Assembled from South Africa in 2022:
- Mauritius (undefinedK units)
- Netherlands (undefinedK units)
- Italy (14.1K units)
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This report provides an in-depth analysis of the assembled watch movements market in South Africa.
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