Czech Republic: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in the Czech Republic

The Czech market for plastic or non-precious metal watches dropped to $X in 2022, shrinking by -12.7% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Plastic or non-precious metal watch consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Plastic or Non-Precious Metal Watches in the Czech Republic

In value terms, plastic or non-precious metal watch production fell slightly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt contraction. The pace of growth appeared the most rapid in 2015 when the production volume increased by 30%. Plastic or non-precious metal watch production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Plastic or Non-Precious Metal Watches

Exports from the Czech Republic

In 2022, exports of plastic or non-precious metal watches from the Czech Republic shrank modestly to X units, waning by -2.8% compared with 2021. In general, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 77%. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch exports contracted to $X in 2022. Overall, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 90% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then declined in the following year.

Exports by Country

Slovakia (X units), Germany (X units) and Hungary (X units) were the main destinations of plastic or non-precious metal watch exports from the Czech Republic, with a combined 59% share of total exports. Poland, Hong Kong SAR, Romania, Bulgaria, Austria, Spain, Lithuania and France lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +102.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic or non-precious metal watch exported from the Czech Republic were Slovakia ($X), Germany ($X) and Poland ($X), with a combined 60% share of total exports. Hungary, Hong Kong SAR, Austria, Spain, France, Lithuania, Bulgaria and Romania lagged somewhat behind, together accounting for a further 25%.

Among the main countries of destination, Bulgaria, with a CAGR of +143.3%, recorded 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

In 2022, the average export price for plastic or non-precious metal watches amounted to $X per unit, falling by -2.3% against the previous year. Overall, the export price, however, posted strong growth. The most prominent rate of growth was recorded in 2013 an increase of 50%. Over the period under review, the average export prices attained the maximum at $X per unit in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Romania ($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 Bulgaria (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into the Czech Republic

Plastic or non-precious metal watch imports into the Czech Republic declined remarkably to X units in 2022, with a decrease of -21% compared with the year before. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch imports declined modestly to $X in 2022. Over the period under review, imports, however, posted a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by 52% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of plastic or non-precious metal watch to the Czech Republic, accounting for a 69% share of total imports. Moreover, plastic or non-precious metal watch imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), eightfold. Germany (X units) ranked third in terms of total imports with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+13.5% per year) and Germany (-7.9% per year).

In value terms, the largest plastic or non-precious metal watch suppliers to the Czech Republic were Switzerland ($X), China ($X) and Hong Kong SAR ($X), together comprising 79% of total imports. Taiwan (Chinese), Germany, Spain, the Philippines and Vietnam lagged somewhat behind, together accounting for a further 12%.

Vietnam, with a CAGR of +154.2%, recorded the highest growth rate of 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

The average import price for plastic or non-precious metal watches stood at $X per unit in 2022, growing by 24% against the previous year. Overall, the import price saw a remarkable increase. The growth pace was the most rapid in 2016 an increase of 27% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform