Kuwait: Watch Market 2025

Watch Market Size in Kuwait

The Kuwaiti watch market skyrocketed to $X in 2021, jumping by 27% 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). The market value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Watch Exports

Exports from Kuwait

In 2021, watch exports from Kuwait surged to X units, with an increase of 248% against the year before. Overall, exports, however, showed a abrupt curtailment. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, watch exports skyrocketed to $X in 2021. Over the period under review, exports saw temperate growth. The most prominent rate of growth was recorded in 2013 with an increase of 169%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units), Hong Kong SAR (X units) and the United Arab Emirates (X units) were the main destinations of watch exports from Kuwait, with a combined 55% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +80.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for watch exported from Kuwait were the United Arab Emirates ($X), Hong Kong SAR ($X) and the UK ($X), together accounting for 75% of total exports.

The UK, with a CAGR of +114.8%, saw the highest rates of growth with regard to 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 2021, the average watch export price amounted to $X per unit, reducing by -47.5% against the previous year. In general, the export price, however, continues to indicate a significant increase. The pace of growth was the most pronounced in 2013 an increase of 493%. The export price peaked at $X per unit in 2020, and then plummeted in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Ireland ($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 the United Arab Emirates (+49.1%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Kuwait

Watch imports into Kuwait stood at X units in 2021, picking up by 6.9% compared with the previous year. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 31% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, watch imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of watch to Kuwait, accounting for a 61% share of total imports. Moreover, watch imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X units), threefold. The United Arab Emirates (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-0.2% per year) and the United Arab Emirates (+5.6% per year).

In value terms, Switzerland ($X) constituted the largest supplier of watches to Kuwait, comprising 78% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.7% share of total imports. It was followed by China, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland stood at +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-8.2% per year) and China (+24.4% per year).

Import Prices by Country

In 2021, the average watch import price amounted to $X per unit, picking up by 34% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 Hong Kong SAR (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :