Eastern Europe: Watch Market 2025

Watch Market Size in Eastern Europe

The East European watch market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Watch Production in Eastern Europe

In value terms, watch production contracted to $X in 2021 estimated in export price. Overall, production saw a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 61% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Watch Exports

Exports in Eastern Europe

In 2021, the amount of watches exported in Eastern Europe stood at X units, standing approx. at 2020 figures. In general, exports showed strong growth. The pace of growth was the most pronounced in 2014 with an increase of 79% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, watch exports soared to $X in 2021. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 37%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Poland represented the largest exporting country with an export of around X units, which finished at 41% of total exports. The Czech Republic (X units) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (13%), Lithuania (8.1%), Hungary (6.1%) and Russia (4.8%). Romania (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to watch exports from Poland stood at +11.7%. At the same time, Lithuania (+21.8%), Russia (+21.2%), the Czech Republic (+9.3%), Hungary (+7.3%), Slovakia (+7.0%) and Romania (+1.9%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +21.8% from 2012-2021. Lithuania (+4.8 p.p.), Poland (+4.7 p.p.) and Russia (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Hungary, Romania and Slovakia saw its share reduced by -1.6%, -3.8% and -3.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), the Czech Republic ($X) and Slovakia ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 68% of total exports.

Poland, with a CAGR of +30.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2021, with an increase of 18% against the previous year. Export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.9% 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 export price increased by +65.7% against 2015 indices. The pace of growth appeared the most rapid in 2013 an increase of 41%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+16.7%), while the other leaders experienced more modest paces of growth.

Watch Imports

Imports in Eastern Europe

Watch imports rose modestly to X units in 2021, picking up by 1.6% on 2020 figures. Total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -24.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 23% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, watch imports skyrocketed to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X units), distantly followed by Russia (X units), the Czech Republic (X units), Romania (X units), Slovakia (X units) and Hungary (X units) were the major importers of watches, together generating 86% of total imports. The following importers - Ukraine (X units) and Lithuania (X units) - each finished at a 6.4% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +11.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and the Czech Republic ($X) were the countries with the highest levels of imports in 2021, together comprising 64% of total imports. Slovakia, Romania, Lithuania, Hungary and Ukraine lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, Lithuania, with a CAGR of +18.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per unit, rising by 27% against the previous year. Import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, watch import price increased by +67.6% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lithuania ($X per unit), while Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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