Eastern Asia: Precious Metal Watch Market 2025

Precious Metal Watch Market Size in Eastern Asia

In 2022, the East Asian precious metal watch market increased by 2.6% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, continues to indicate perceptible growth. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Precious Metal Watch Production in Eastern Asia

In value terms, precious metal watch production rose remarkably to $X in 2022 estimated in export price. In general, production recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 519%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Precious Metal Watch Exports

Exports in Eastern Asia

In 2022, the amount of precious metal watches exported in Eastern Asia surged to X units, rising by 21% compared with the previous year. Over the period under review, exports showed a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 130%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, precious metal watch exports dropped slightly to $X in 2022. The total export value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 28%. The level of export peaked at $X in 2014; afterwards, it flattened through to 2022.

Exports by Country

In 2022, China (X units) was the key exporter of precious metal watches, comprising 81% of total exports. It was distantly followed by Hong Kong SAR (X units), generating a 17% share of total exports. Taiwan (Chinese) (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the precious metal watches exports, with a CAGR of +31.7% from 2012 to 2022. At the same time, Hong Kong SAR (+11.4%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-8.7%) illustrated a downward trend over the same period. While the share of China (+48 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (-19.3 p.p.) and Taiwan (Chinese) (-28.9 p.p.) displayed negative dynamics.

In value terms, Hong Kong SAR ($X) remains the largest precious metal watch supplier in Eastern Asia, comprising 81% of total exports. The second position in the ranking was held by China ($X), with a 6.1% share of total exports.

In Hong Kong SAR, precious metal watch exports expanded at an average annual rate of +1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+27.1% per year) and Taiwan (Chinese) (+5.6% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, reducing by -17.9% against the previous year. Overall, the export price saw a abrupt decline. The pace of growth was the most pronounced in 2020 when the export price increased by 164% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+15.6%), while the other leaders experienced a decline in the export price figures.

Precious Metal Watch Imports

Imports in Eastern Asia

In 2022, imports of precious metal watches in Eastern Asia shrank to X units, declining by -7.8% against 2021 figures. In general, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, precious metal watch imports shrank to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Taiwan (Chinese) (X units) and Hong Kong SAR (X units) were the largest importers of precious metal watches in Eastern Asia, together recording approx. 72% of total imports. China (X units) held the next position in the ranking, followed by Japan (X units) and Macao SAR (X units). All these countries together held approx. 26% share of total imports. South Korea (X units) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +5.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported precious metal watches in Eastern Asia, comprising 52% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by Japan, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR stood at -2.7%. In the other countries, the average annual rates were as follows: China (+7.5% per year) and Japan (-0.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, falling by -4.2% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the import price increased by 36%. Over the period under review, import prices attained the peak figure at $X per unit in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform