Libya: Market for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal 2022

Market Size for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in Libya

In 2021, the Libyan market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals decreased by -38.6% to $X, falling for the second year in a row after two years of growth. In general, consumption faced a sharp contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Exports from Libya

After three years of growth, shipments abroad of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals decreased by -6.2% to X units in 2021. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 75%. Over the period under review, the exports of reached the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals expanded sharply to $X in 2021. Overall, exports saw a significant contraction. The pace of growth was the most pronounced in 2018 when exports increased by 13%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X units) was the main destination for exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals from Libya, with a 93% share of total exports. Moreover, exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals to Switzerland exceeded the volume sent to the second major destination, Pakistan (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Switzerland was relatively modest.

In value terms, Switzerland ($X) remains the key foreign market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal exports from Libya, comprising 100% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 0.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Switzerland amounted to -29.3%.

Export Prices by Country

In 2021, the average export price for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals amounted to $X per unit, picking up by 23% against the previous year. Over the period under review, the export price, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2014 when the average export price increased by 152% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Pakistan amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (-4.6%).

Imports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Imports into Libya

In 2021, overseas purchases of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals decreased by -49.7% to X units, falling for the second year in a row after two years of growth. Overall, imports recorded a sharp downturn. The most prominent rate of growth was recorded in 2018 with an increase of 281%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals skyrocketed to $X in 2021. In general, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2014 when imports increased by 240%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

In 2021, Turkey (X units) constituted the largest supplier of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal to Libya, with a 74% share of total imports. Moreover, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals from Turkey exceeded the figures recorded by the second-largest supplier, Switzerland (X units), fivefold. The third position in this ranking was taken by the United Arab Emirates (X units), with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-14.0% per year) and the United Arab Emirates (-37.5% per year).

In value terms, Switzerland ($X) constituted the largest supplier of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal to Libya, comprising 69% of total imports. The second position in the ranking was taken by Italy ($X), with a 15% share of total imports. It was followed by Turkey, with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland stood at +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+29.0% per year) and Turkey (+4.9% per year).

Import Prices by Country

In 2021, the average import price for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals amounted to $X per unit, growing by 265% against the previous year. Overall, the import price showed a significant expansion. The pace of growth was the most pronounced in 2014 an increase of 1,016% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+43.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform