Libya: Market for Plastic or Non-Precious Metal Watches 2025

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

The Libyan market for plastic or non-precious metal watches dropped to $X in 2022, which is down by -7.6% 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 slight shrinkage. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Exports of Plastic or Non-Precious Metal Watches

Exports from Libya

Plastic or non-precious metal watch exports from Libya surged to X units in 2022, rising by 133% compared with 2021 figures. In general, exports, however, saw a relatively flat trend pattern. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, plastic or non-precious metal watch exports skyrocketed to $X in 2022. Overall, exports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 222%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X units) was the main destination for plastic or non-precious metal watch exports from Libya, with a 71% share of total exports. Moreover, plastic or non-precious metal watch exports to France exceeded the volume sent to the second major destination, the Netherlands (X units), eightfold. Germany (X units) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-15.7% per year) and Germany (0.0% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for plastic or non-precious metal watches exports from Libya, comprising 42% of total exports. The second position in the ranking was taken by France ($X), with an 18% share of total exports. It was followed by Egypt, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+5.2% per year) and Egypt (0.0% per year).

Export Prices by Country

In 2022, the average export price for plastic or non-precious metal watches amounted to $X per unit, rising by 8.9% against the previous year. In general, the export price, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2018 an increase of 115% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to France ($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 Austria (+69.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Libya

Plastic or non-precious metal watch imports into Libya shrank modestly to X units in 2022, falling by -1.5% compared with the year before. Over the period under review, imports, however, showed a modest expansion. The pace of growth was the most pronounced in 2019 when imports increased by 129% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, plastic or non-precious metal watch imports declined sharply to $X in 2022. Overall, imports recorded a abrupt contraction. The growth pace was the most rapid in 2019 when imports increased by 99%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest plastic or non-precious metal watch supplier to Libya, accounting for a 84% share of total imports. Moreover, plastic or non-precious metal watch imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold. The third position in this ranking was taken by Turkey (X units), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-13.7% per year) and Turkey (+1.2% per year).

In value terms, Switzerland ($X) constituted the largest supplier of plastic or non-precious metal watches to Libya, comprising 56% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by Hong Kong SAR, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Switzerland amounted to -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.0% per year) and Hong Kong SAR (-4.9% per year).

Import Prices by Country

In 2022, the average import price for plastic or non-precious metal watches amounted to $X per unit, with a decrease of -21.9% against the previous year. Overall, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 42%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform