Report Update Nov 1, 2024

Bangladesh - Watches - Market Analysis, Forecast, Size, Trends and Insights

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Bangladesh: Watch Market 2024

Watch Market Size in Bangladesh

After four years of decline, the Bangladeshi watch market increased by 9.5% to $X in 2021. In general, consumption, however, enjoyed resilient growth. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Watch Exports

Exports from Bangladesh

In 2021, overseas shipments of watches increased by 0.2% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports enjoyed a strong expansion. The growth pace was the most rapid in 2016 when exports increased by 117% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, watch exports contracted to $X in 2021. Overall, exports showed strong growth. The growth pace was the most rapid in 2020 when exports increased by 242%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Hong Kong SAR (X units), Spain (X units) and Kuwait (X units) were the main destinations of watch exports from Bangladesh, together comprising 52% of total exports. These countries were followed by Germany, the Czech Republic, Canada, Estonia, the United Arab Emirates and Belgium, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +297.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for watch exported from Bangladesh were Spain ($X), Germany ($X) and Hong Kong SAR ($X), together comprising 64% of total exports. These countries were followed by Kuwait, Canada, the Czech Republic, Estonia, the United Arab Emirates, Belgium and Turkey, which together accounted for a further 11%.

Estonia, with a CAGR of +355.9%, recorded the highest growth rate of the value of exports, in terms of 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

The average watch export price stood at $X per unit in 2021, declining by -8.9% against the previous year. In general, the export price, however, showed a strong expansion. The growth pace was the most rapid in 2017 an increase of 268%. Over the period under review, the average export prices reached the maximum at $X per unit in 2020, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+556.4%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Bangladesh

For the fifth year in a row, Bangladesh recorded decline in overseas purchases of watches, which decreased by -20.9% to X units in 2021. Overall, imports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 400% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, watch imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 158%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Hong Kong SAR (X units) and India (X units) were the main suppliers of watch imports to Bangladesh, with a combined 94% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +16.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) constituted the largest supplier of watches to Bangladesh, comprising 47% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 17% share of total imports. It was followed by India, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from Switzerland stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+11.1% per year) and India (+6.6% per year).

Import Prices by Country

The average watch import price stood at $X per unit in 2021, jumping by 97% against the previous year. Overall, the import price, however, recorded a perceptible setback. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+11.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for watches in the world?

South Africa remains the largest watch consuming country worldwide, comprising approx. 65% of total volume. Moreover, watch consumption in South Africa exceeded the figures recorded by the second-largest consumer, the United States, more than tenfold. China ranked third in terms of total consumption with a 5% share.

What are the largest producers of watches in the world?

South Africa constituted the country with the largest volume of watch production, comprising approx. 94% of total volume. Moreover, watch production in South Africa exceeded the figures recorded by the second-largest producer, China, more than tenfold.

What are the leading suppliers of watches to Bangladesh?

In value terms, Switzerland constituted the largest supplier of watch to Bangladesh, comprising 39% of total imports. The second position in the ranking was occupied by China, with a 19% share of total imports. It was followed by Hong Kong SAR, with an 18% share.

What are the leading importers of watches from Bangladesh?

In value terms, the United States remains the key foreign market for watch exports from Bangladesh, comprising 58% of total exports. The second position in the ranking was occupied by Spain, with a 21% share of total exports. It was followed by Malaysia, with a 5.7% share.

What is the average export price for watches in Bangladesh?

The average watch export price stood at $19 per unit in 2021, which is down by -5.5% against the previous year.

What is the average import price for watches in Bangladesh?

The average watch import price stood at $18 per unit in 2021, picking up by 27% against the previous year.

This report provides an in-depth analysis of the watch market in Bangladesh. 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:

Bangladesh

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bangladesh
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023