Malaysia: Watch Market 2025

Watch Market Size in Malaysia

The Malaysian watch market dropped to $X in 2021, which is down by -5.5% against the previous year. In general, consumption recorded a noticeable slump. Watch consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Watch Production in Malaysia

In value terms, watch production fell to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2020 when the production volume increased by 11%. Watch production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Watch Exports

Exports from Malaysia

In 2021, after three years of decline, there was significant growth in overseas shipments of watches, when their volume increased by 63% to X units. In general, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 151% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, watch exports skyrocketed to $X in 2021. Overall, exports recorded a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X units), Thailand (X units) and Singapore (X units) were the main destinations of watch exports from Malaysia, with a combined 85% share of total exports. China lagged somewhat behind, comprising a further 8.1%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +31.1%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for watches exports from Malaysia, comprising 50% of total exports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total exports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR stood at +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+1.4% per year) and China (+52.4% per year).

Export Prices by Country

The average watch export price stood at $X per unit in 2021, growing by 13% against the previous year. Over the period under review, the export price showed a prominent increase. The most prominent rate of growth was recorded in 2014 an increase of 60% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Thailand ($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 China (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Malaysia

Watch imports into Malaysia declined modestly to X units in 2021, shrinking by -4.9% on 2020. Overall, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 8.9% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, watch imports declined slightly to $X in 2021. Over the period under review, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2017 with an increase of 12% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Hong Kong SAR (X units), China (X units) and Singapore (X units) were the main suppliers of watch imports to Malaysia, together accounting for 78% of total imports. These countries were followed by Thailand, Switzerland, Japan and Qatar, which together accounted for a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Qatar (with a CAGR of +26.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X), Switzerland ($X) and Hong Kong SAR ($X) were the largest watch suppliers to Malaysia, with a combined 81% share of total imports. These countries were followed by China, Thailand, Japan and Qatar, which together accounted for a further 13%.

Thailand, with a CAGR of +22.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average watch import price amounted to $X per unit, picking up by 2.2% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, watch import price increased by +1.1% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 46% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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