Libya: Watch Market 2025

Watch Market Size in Libya

The Libyan watch market surged to $X in 2021, jumping by 35% 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). Overall, consumption, however, continues to indicate a pronounced descent. Watch consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Watch Exports

Exports from Libya

In 2021, the amount of watches exported from Libya soared to X units, picking up by 63% on the year before. Overall, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 193%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, watch exports expanded sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of 207% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

France (X units) was the main destination for watch exports from Libya, with a 54% share of total exports. Moreover, watch exports to France exceeded the volume sent to the second major destination, South Africa (X units), twofold. The third position in this ranking was held by Austria (X units), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+20.1% per year) and Austria (-30.7% per year).

In value terms, Austria ($X) emerged as the key foreign market for watches exports from Libya, comprising 26% of total exports. The second position in the ranking was held by France ($X), with a 6.9% share of total exports. It was followed by South Africa, with a 0.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Austria amounted to +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-5.0% per year) and South Africa (-42.9% per year).

Export Prices by Country

The average watch export price stood at $X per unit in 2021, with a decrease of -29.3% against the previous year. In general, the export price, however, continues to indicate tangible growth. The growth pace was the most rapid in 2017 when the average export price increased by 285%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to South Africa ($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 Netherlands (+81.1%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Libya

In 2021, imports of watches into Libya soared to X units, picking up by 16% on the previous year's figure. Overall, imports, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 156% against the previous year. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, watch imports soared to $X in 2021. In general, imports, however, recorded a noticeable descent. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of watch to Libya, with a 76% share of total imports. Moreover, watch imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), sixfold. The third position in this ranking was taken by Switzerland (X units), with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-8.9% per year) and Switzerland (-1.8% per year).

In value terms, Switzerland ($X) constituted the largest supplier of watches to Libya, comprising 62% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Hong Kong SAR, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value from Switzerland amounted to -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.9% per year) and Hong Kong SAR (-3.3% per year).

Import Prices by Country

In 2021, the average watch import price amounted to $X per unit, increasing by 74% against the previous year. In general, the import price, however, recorded a pronounced contraction. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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