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

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

In 2022, the Italian market for plastic or non-precious metal watches increased by 3.3% to $X, rising for the second year in a row after five years of decline. In general, consumption, however, continues to indicate a pronounced decline. Plastic or non-precious metal watch consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Plastic or Non-Precious Metal Watches in Italy

In value terms, plastic or non-precious metal watch production surged to $X in 2022 estimated in export price. Overall, production, however, faced a deep reduction. Plastic or non-precious metal watch production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Plastic or Non-Precious Metal Watches

Exports from Italy

In 2022, approx. X units of plastic or non-precious metal watches were exported from Italy; with a decrease of -8.2% against 2021 figures. In general, exports recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 14%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, plastic or non-precious metal watch exports shrank markedly to $X in 2022. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 16%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units), France (X units) and Spain (X units) were the main destinations of plastic or non-precious metal watch exports from Italy, together accounting for 48% of total exports. Poland, Switzerland, Hong Kong SAR, the United States, the United Arab Emirates, the Netherlands, Greece, Portugal, Saudi Arabia and the UK lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +16.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic or non-precious metal watch exported from Italy were Hong Kong SAR ($X), Switzerland ($X) and Germany ($X), together accounting for 52% of total exports. The United States, France, the UK, Spain, Poland, the United Arab Emirates, Saudi Arabia, Greece, Portugal and the Netherlands lagged somewhat behind, together accounting for a further 28%.

Poland, with a CAGR of +23.6%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the average export price for plastic or non-precious metal watches amounted to $X per unit, waning by -8.3% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 32% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Spain ($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 the UK (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Italy

In 2022, the amount of plastic or non-precious metal watches imported into Italy fell to X units, approximately reflecting 2021. Over the period under review, imports recorded a abrupt contraction. The growth pace was the most rapid in 2014 when imports increased by 29%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic or non-precious metal watch imports stood at $X in 2022. Overall, imports recorded a mild decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest plastic or non-precious metal watch supplier to Italy, accounting for a 52% share of total imports. Moreover, plastic or non-precious metal watch imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by France (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.5% per year) and France (+0.3% per year).

In value terms, Switzerland ($X) constituted the largest supplier of plastic or non-precious metal watches to Italy, comprising 51% of total imports. The second position in the ranking was taken by France ($X), with a 16% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Switzerland totaled -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.1% per year) and Germany (+9.9% per year).

Import Prices by Country

In 2022, the average import price for plastic or non-precious metal watches amounted to $X per unit, rising by 2.5% against the previous year. Overall, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic or non-precious metal watch import price increased by +61.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 45%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform