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

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

The Chilean market for plastic or non-precious metal watches reduced dramatically to $X in 2022, which is down by -24.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +54.7% against 2020 indices. As a result, consumption attained the peak level of $X, and then fell notably in the following year.

Exports of Plastic or Non-Precious Metal Watches

Exports from Chile

In 2022, plastic or non-precious metal watch exports from Chile contracted remarkably to X units, which is down by -60.5% against the previous year's figure. In general, exports faced a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 1,280%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic or non-precious metal watch exports shrank markedly to $X in 2022. Over the period under review, exports saw a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 54% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Peru (X units) was the main destination for plastic or non-precious metal watch exports from Chile, accounting for a 58% share of total exports. Moreover, plastic or non-precious metal watch exports to Peru exceeded the volume sent to the second major destination, Bolivia (X units), threefold. The third position in this ranking was taken by Argentina (X units), with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to Peru totaled +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-17.4% per year) and Argentina (-22.8% per year).

In value terms, Peru ($X) remains the key foreign market for plastic or non-precious metal watches exports from Chile, comprising 65% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by Bolivia, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value to Peru totaled -9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+21.2% per year) and Bolivia (-13.3% per year).

Export Prices by Country

In 2022, the average export price for plastic or non-precious metal watches amounted to $X per unit, jumping by 112% against the previous year. In general, the export price posted noticeable growth. The pace of growth appeared the most rapid in 2013 an increase of 183%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Colombia ($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 the United States (+63.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Chile

In 2022, approx. X units of plastic or non-precious metal watches were imported into Chile; waning by -21.8% compared with 2021. Over the period under review, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 157% against the previous year. As a result, imports reached the peak of X units, and then shrank rapidly in the following year.

In value terms, plastic or non-precious metal watch imports shrank notably to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 85% against the previous year. As a result, imports reached the peak of $X, and then dropped markedly in the following year.

Imports by Country

In 2022, China (X units) was the main plastic or non-precious metal watch supplier to Chile, with a 94% share of total imports. It was followed by the United States (X units), with a 1.8% share of total imports. Panama (X units) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+26.0% per year) and Panama (+5.6% per year).

In value terms, China ($X) constituted the largest supplier of plastic or non-precious metal watches to Chile, comprising 53% of total imports. The second position in the ranking was held by Switzerland ($X), with a 24% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-1.9% per year) and the United States (+20.1% per year).

Import Prices by Country

In 2022, the average import price for plastic or non-precious metal watches amounted to $X per unit, waning by -6.6% against the previous year. Over the period under review, the import price recorded a deep downturn. The growth pace was the most rapid in 2013 an increase of 24% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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 ($X per unit), while the price for China ($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 (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform