Belgium: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in Belgium

For the fourth year in a row, the Belgian market for plastic or non-precious metal watches recorded growth in sales value, which increased by 19% to $X in 2022. In general, consumption saw a perceptible descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Plastic or Non-Precious Metal Watches in Belgium

In value terms, plastic or non-precious metal watch production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 53% against the previous year. Plastic or non-precious metal watch production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Plastic or Non-Precious Metal Watches

Exports from Belgium

After three years of growth, shipments abroad of plastic or non-precious metal watches decreased by -62.2% to X units in 2022. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 49%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch exports dropped remarkably to $X in 2022. In general, exports showed a mild curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 35%. As a result, the exports reached the peak of $X, and then fell dramatically in the following year.

Exports by Country

Germany (X units), France (X units) and Austria (X units) were the main destinations of plastic or non-precious metal watch exports from Belgium, together comprising 73% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +41.9%), while the other leaders experienced mixed trend patterns.

In value terms, France ($X), Luxembourg ($X) and Germany ($X) were the largest markets for plastic or non-precious metal watch exported from Belgium worldwide, with a combined 44% share of total exports. Switzerland, Hong Kong SAR, the UK, the Netherlands, Spain, Austria and Italy lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, Austria, with a CAGR of +23.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for plastic or non-precious metal watches stood at $X per unit in 2022, with an increase of 28% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 an increase of 47% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per unit), while the average price for exports to Austria ($X 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 Luxembourg (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Belgium

In 2022, supplies from abroad of plastic or non-precious metal watches decreased by -54.1% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 60%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, plastic or non-precious metal watch imports contracted notably to $X in 2022. Overall, imports showed a mild slump. The pace of growth appeared the most rapid in 2020 with an increase of 37%. Imports peaked at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest plastic or non-precious metal watch supplier to Belgium, with a 59% share of total imports. Moreover, plastic or non-precious metal watch imports from China exceeded the figures recorded by the second-largest supplier, France (X units), threefold. The third position in this ranking was taken by Germany (X units), with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.8% per year) and Germany (+0.4% per year).

In value terms, Switzerland ($X) constituted the largest supplier of plastic or non-precious metal watches to Belgium, comprising 45% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by France, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Switzerland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.1% per year) and France (+3.5% per year).

Import Prices by Country

The average import price for plastic or non-precious metal watches stood at $X per unit in 2022, increasing by 49% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform