Hong Kong SAR, China - Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice of Watches in Hong Kong Jumps to $113 Each
Hong Kong Watch Import Price in January 2023
In January 2023, the watch price amounted to $113 per unit (CIF, Hong Kong), jumping by 34% against the previous month. Over the period under review, the import price, however, recorded a perceptible reduction. Over the period under review, average import prices reached the maximum at $183 per unit in February 2022; however, from March 2022 to January 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In January 2023, the country with the highest price was Thailand ($69.3 per unit), while the price for China amounted to $14.6 per unit.
From February 2022 to January 2023, the most notable rate of growth in terms of prices was attained by China (-0.4%).
| COUNTRY | Import Price of Watch in Hong Kong (USD per unit) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | |
| Thailand | 95.3 | 83.5 | 106 | 57.2 | 87.3 | 81.9 | 33.8 | 36.2 | 84.8 | 68.8 | 77.3 | 69.3 |
| China | 15.2 | 11.8 | 11.4 | 13.4 | 12.4 | 13.0 | 12.9 | 14.2 | 12.6 | 14.9 | 14.2 | 14.6 |
| Average | 183 | 97.0 | 68.1 | 79.2 | 72.0 | 69.5 | 67.3 | 73.4 | 76.5 | 89.4 | 84.2 | 113 |
Hong Kong Watch Import Prices by Type
There were significant differences in the average prices amongst the major supplied products. In January 2023, the product with the highest price was wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal ($21,133 per unit), while the price for plastic or non-precious metal watches stood at $60.3 per unit.
From February 2022 to January 2023, the most notable rate of growth in terms of prices was attained by wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal (-0.8%).
Hong Kong Watch Imports
In January 2023, watch imports into Hong Kong shrank significantly to 4.1M units, declining by -29.3% against December 2022 figures. Over the period under review, total imports indicated a measured increase from February 2022 to January 2023: its volume increased at an average monthly rate of +2.8% over the last eleven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2023 figures, imports decreased by -47.2% against July 2022 indices. The pace of growth was the most pronounced in March 2022 with an increase of 116% m-o-m. Over the period under review, imports reached the maximum at 8M units in April 2022; however, from May 2022 to January 2023, imports remained at a lower figure.
In value terms, watch imports dropped to $460M (IndexBox estimates) in January 2023. Overall, imports showed a slight decline. The most prominent rate of growth was recorded in March 2022 with an increase of 14% month-to-month. As a result, imports attained the peak of $631M. From April 2022 to January 2023, the growth of imports remained at a lower figure.
Hong Kong Watch Imports by Type
In January 2023, plastic or non-precious metal watches (4.1M units) was the main type of watch supplied to Hong Kong, with a 100% share of total imports. It was followed by wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal (10K units), with a 0.2% share of total imports.
From February 2022 to January 2023, the average monthly rate of growth in terms of the volume of import of plastic or non-precious metal watches totaled +2.8%.
In value terms, the most traded types of watches in Hong Kong were plastic or non-precious metal watches ($245M) and wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal ($215M).
Hong Kong Watch Imports by Country
In January 2023, China (3.7M units) was the main supplier of watch to Hong Kong, with a 91% share of total imports. It was followed by Thailand (108K units), with a 2.6% share of total imports.
From February 2022 to January 2023, the average monthly growth rate of volume from China amounted to +3.4%.
In value terms, China ($54M) constituted the largest supplier of watch to Hong Kong, comprising 12% of total imports. The second position in the ranking was taken by Thailand ($7.5M), with a 1.6% share of total imports.
From February 2022 to January 2023, the average monthly growth rate of value from China amounted to +3.1%.
This report provides an in-depth analysis of the watch market in Hong Kong SAR, China. 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
- Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- 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 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- 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 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- 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, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
