Denmark: Watch Market 2025

Watch Market Size in Denmark

In 2021, the Danish watch market increased by 43% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +78.4% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Watch Production in Denmark

In value terms, watch production stood at $X in 2021 estimated in export price. Overall, production saw a dramatic curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 25%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Watch Exports

Exports from Denmark

After four years of decline, shipments abroad of watches increased by 4.7% to X units in 2021. Over the period under review, exports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 23% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, watch exports surged to $X in 2021. In general, total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +59.2% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 31% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Sweden (X units), Germany (X units) and Norway (X units) were the main destinations of watch exports from Denmark, together accounting for 57% of total exports. Hong Kong SAR, Belgium, Romania, Iceland, Japan, Finland, Italy, the Netherlands, the UK and the United States lagged somewhat behind, together accounting for a further 58%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +45.8%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for watches exports from Denmark, comprising 35% of total exports. The second position in the ranking was taken by Sweden ($X), with a 15% share of total exports. It was followed by Norway, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR totaled +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+4.8% per year) and Norway (+11.8% per year).

Export Prices by Country

In 2021, the average watch export price amounted to $X per unit, picking up by 25% against the previous year. Overall, the export price saw prominent growth. The pace of growth appeared the most rapid in 2017 an increase of 37% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Iceland ($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 the Netherlands (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Denmark

In 2021, supplies from abroad of watches increased by 28% to X units, rising for the third consecutive year after two years of decline. In general, imports, however, showed a pronounced reduction. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, watch imports soared to $X in 2021. The total import value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and Sweden (X units) were the main suppliers of watch imports to Denmark, with a combined 74% 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 Germany (with a CAGR of +16.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) constituted the largest supplier of watches to Denmark, comprising 38% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.6% per year) and the Netherlands (+4.5% per year).

Import Prices by Country

In 2021, the average watch import price amounted to $X per unit, surging by 3.4% against the previous year. Overall, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, watch import price decreased by -10.8% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 49% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2018; however, from 2019 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 Switzerland (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :