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

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

The Kazakh market for plastic or non-precious metal watches was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption showed a significant increase. Plastic or non-precious metal watch consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Exports of Plastic or Non-Precious Metal Watches

Exports from Kazakhstan

In 2022, overseas shipments of plastic or non-precious metal watches increased by 36% to X units, rising for the third consecutive year after four years of decline. Overall, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2021 with an increase of 255%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, plastic or non-precious metal watch exports dropped to $X in 2022. Over the period under review, exports recorded a noticeable expansion. The pace of growth appeared the most rapid in 2021 with an increase of 225%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units), Switzerland (X units) and Russia (X units) were the main destinations of plastic or non-precious metal watch exports from Kazakhstan, together accounting for 87% 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 the United Arab Emirates (with a CAGR of +53.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for plastic or non-precious metal watches exports from Kazakhstan, comprising 51% of total exports. The second position in the ranking was held by Switzerland ($X), with a 21% share of total exports. It was followed by Russia, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at +39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-4.8% per year) and Russia (+42.2% per year).

Export Prices by Country

The average export price for plastic or non-precious metal watches stood at $X per unit in 2022, shrinking by -29.4% against the previous year. Overall, the export price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2019 when the average export price increased by 72% against the previous year. Over the period under review, the average export prices reached the peak figure 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 for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Kyrgyzstan ($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 Turkmenistan (+11.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Plastic or Non-Precious Metal Watches

Imports into Kazakhstan

In 2022, after two years of decline, there was significant growth in purchases abroad of plastic or non-precious metal watches, when their volume increased by 96% to X units. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 393% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, plastic or non-precious metal watch imports soared to $X in 2022. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 309% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of plastic or non-precious metal watch to Kazakhstan, accounting for a 74% 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), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +42.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+47.3% per year) and Russia (+1.3% per year).

In value terms, the largest plastic or non-precious metal watch suppliers to Kazakhstan were China ($X), Switzerland ($X) and Russia ($X), together accounting for 96% of total imports.

Among the main suppliers, China, with a CAGR of +49.2%, 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 2022, the average import price for plastic or non-precious metal watches amounted to $X per unit, which is down by -32.3% against the previous year. Over the period under review, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2021 an increase of 123%. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform