Price for Watches; Incomplete Movements, Assembled in Canada - 2022

Price for Watches; Incomplete Movements, Assembled in Canada (CIF) - 2022

In 2022, the average watches; incomplete movements, assembled import price amounted to $1,546 per unit, picking up by 37% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by 81%. As a result, import price reached the peak level of $2,007 per unit. From 2020 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 Switzerland ($8,612 per unit), while the price for Taiwan (Chinese) ($160 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Watches; Incomplete Movements, Assembled in Canada (FOB) - 2022

The average watches; incomplete movements, assembled export price stood at $613 per unit in 2022, jumping by 53% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 an increase of 61% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($777 per unit), while the average price for exports to Switzerland totaled $661 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+10.4%).

Imports of Watches; Incomplete Movements, Assembled in Canada

For the third year in a row, Canada recorded decline in supplies from abroad of watches; incomplete movements, assembleds, which decreased by -50% to 16 units in 2022. In general, imports continue to indicate a significant contraction. The smallest decline of -27.3% was in 2021. Imports peaked at 84 units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, watches; incomplete movements, assembled imports contracted notably to $24K in 2022. Over the period under review, imports continue to indicate a precipitous slump. The smallest decline of -24.3% was in 2021. Imports peaked at $168K in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Import of Watches; Incomplete Movements, Assembled in Canada (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Switzerland	153	29.6	25.8	21.8	-47.8%
United States	0.8	0.3	0.5	1.1	11.2%
United Kingdom	2.6	1.7	1.0	0.6	-38.7%
Taiwan (Chinese)	0.3	0.3	0.3	0.5	18.6%
Thailand	0.5	0.6	0.5	N/A	0.0%
Germany	0.1	0.2	0.2	N/A	41.4%
France	1.1	0.3	0.8	N/A	-14.7%
Japan	5.1	14.6	1.3	N/A	-49.5%
Others	4.9	0.9	6.5	0.4	-56.6%
Total	168	48.5	36.7	24.4	-47.4%

Top Suppliers of Watches; Incomplete Movements, Assembled to Canada in 2022:

United States (3.0 units)
Switzerland (3.0 units)
Taiwan (Chinese) (3.0 units)
United Kingdom (2.0 units)

Exports of Watches; Incomplete Movements, Assembled in Canada

In 2022, approx. 110 units of watches; incomplete movements, assembleds were exported from Canada; with an increase of 26% against the previous year. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2021 when exports increased by 1,350%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, watches; incomplete movements, assembled exports soared to $67K in 2022. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 1,281%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.