France: Watch Market 2024

Watch Market Size in France

The French watch market rose sharply to $X in 2021, with an increase of 10% against the previous year. In general, consumption, however, recorded a noticeable slump. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Watch Production in France

In value terms, watch production expanded markedly to $X in 2021 estimated in export price. In general, production, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when the production volume increased by 22%. Watch production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Watch Exports

Exports from France

In 2021, the amount of watches exported from France skyrocketed to X units, increasing by 33% on 2020 figures. Overall, exports, however, recorded a noticeable decline. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, watch exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X units), Belgium (X units) and Germany (X units) were the main destinations of watch exports from France, with a combined 51% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +20.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and Spain ($X) appeared to be the largest markets for watch exported from France worldwide, together comprising 45% of total exports. Switzerland, Portugal, the Netherlands, Belgium, Austria, the UK, Poland and Madagascar lagged somewhat behind, together comprising a further 28%.

Poland, with a CAGR of +14.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average watch export price stood at $X per unit in 2021, declining by -13.7% against the previous year. Over the period under review, the export price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 24%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Poland ($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 Spain (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into France

Watch imports into France rose notably to X units in 2021, picking up by 9.4% against the previous year's figure. In general, imports, however, showed a deep setback. The pace of growth appeared the most rapid in 2019 when imports increased by 15% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, watch imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest watch supplier to France, accounting for a 41% share of total imports. Moreover, watch imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), fourfold. The third position in this ranking was held by Germany (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+35.0% per year) and Germany (+23.1% per year).

In value terms, Switzerland ($X) constituted the largest supplier of watches to France, comprising 69% of total imports. The second position in the ranking was taken by Germany ($X), with an 8.8% share of total imports. It was followed by China, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value from Switzerland totaled -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.6% per year) and China (-11.0% per year).

Import Prices by Country

The average watch import price stood at $X per unit in 2021, picking up by 10% against the previous year. In general, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the average import price increased by 31%. 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 failed to regain momentum.

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 the Netherlands (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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