Greece: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in Greece

The Greek market for plastic or non-precious metal watches skyrocketed to $X in 2022, rising by 47% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a relatively flat trend pattern. Plastic or non-precious metal watch consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Exports of Plastic or Non-Precious Metal Watches

Exports from Greece

In 2022, after two years of growth, there was significant decline in shipments abroad of plastic or non-precious metal watches, when their volume decreased by -63.2% to X units. Overall, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 73%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, plastic or non-precious metal watch exports reduced remarkably to $X in 2022. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2018 when exports increased by 33%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), Cyprus (X units) and Italy (X units) were the main destinations of plastic or non-precious metal watch exports from Greece, with a combined 57% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +20.9%), 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 Greece were Germany ($X), Cyprus ($X) and Italy ($X), with a combined 56% share of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +13.9%, saw 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

The average export price for plastic or non-precious metal watches stood at $X per unit in 2022, surging by 48% against the previous year. In general, the export price posted a mild increase. The most prominent rate of growth was recorded in 2015 an increase of 161%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Romania ($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 Italy (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Greece

In 2022, purchases abroad of plastic or non-precious metal watches increased by 13% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 35%. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch imports rose notably to $X in 2022. The total import value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 41%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of plastic or non-precious metal watch to Greece, with a 58% share of total imports. Moreover, plastic or non-precious metal watch imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X units), sevenfold. The third position in this ranking was taken by Germany (X units), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-3.6% per year) and Germany (-3.5% per year).

In value terms, Switzerland ($X) constituted the largest supplier of plastic or non-precious metal watches to Greece, comprising 59% of total imports. The second position in the ranking was taken by Italy ($X), with an 8.6% share of total imports. It was followed by China, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value from Switzerland stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.8% per year) and China (+0.2% per year).

Import Prices by Country

In 2022, the average import price for plastic or non-precious metal watches amounted to $X per unit, almost unchanged from the previous year. Overall, the import price, however, recorded buoyant growth. The growth pace was the most rapid in 2015 an increase of 23%. The import price peaked at $X per unit in 2021, and then declined modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform