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

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

The Croatian market for plastic or non-precious metal watches reduced markedly to $X in 2022, which is down by -19.6% 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). Overall, consumption, however, showed notable growth. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Exports of Plastic or Non-Precious Metal Watches

Exports from Croatia

In 2022, the amount of plastic or non-precious metal watches exported from Croatia contracted to X units, falling by -7.9% compared with the previous year's figure. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 363% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, plastic or non-precious metal watch exports dropped remarkably to $X in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 477%. The exports peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Slovenia (X units), Germany (X units) and Bosnia and Herzegovina (X units) were the main destinations of plastic or non-precious metal watch exports from Croatia, together accounting for 44% of total exports. Italy, Poland, Spain, China, Hungary, Sweden, Serbia, Switzerland, Hong Kong SAR and Estonia lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +2,209.4%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for plastic or non-precious metal watches exports from Croatia, comprising 44% of total exports. The second position in the ranking was held by Slovenia ($X), with a 17% share of total exports. It was followed by Sweden, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +104.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+36.7% per year) and Sweden (+141.7% per year).

Export Prices by Country

In 2022, the average export price for plastic or non-precious metal watches amounted to $X per unit, reducing by -29.1% against the previous year. In general, the export price, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 184% against the previous year. As a result, the export price reached the peak level of $X per unit, and then dropped sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to China ($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 Germany (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Croatia

In 2022, the amount of plastic or non-precious metal watches imported into Croatia declined rapidly to X units, falling by -20.8% against 2021 figures. Over the period under review, imports saw a slight curtailment. The growth pace was the most rapid in 2014 with an increase of 87% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, plastic or non-precious metal watch imports dropped significantly to $X in 2022. In general, imports, however, posted buoyant growth. The pace of growth was the most pronounced in 2014 when imports increased by 212%. Imports peaked at $X in 2021, and then contracted notably in the following year.

Imports by Country

Germany (X units), China (X units) and Hungary (X units) were the main suppliers of plastic or non-precious metal watch imports to Croatia, with a combined 63% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +183.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic or non-precious metal watch suppliers to Croatia were Germany ($X), Switzerland ($X) and Slovenia ($X), together comprising 57% of total imports. The Netherlands, China, Italy, Hungary, Poland, Hong Kong SAR and Spain lagged somewhat behind, together comprising a further 24%.

Hungary, with a CAGR of +156.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for plastic or non-precious metal watches amounted to $X per unit, increasing by 5.5% against the previous year. Overall, the import price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 an increase of 67%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

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 ($X per unit), while the price for Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform