MERCOSUR: Watch Market 2024

Watch Market Size in MERCOSUR

The MERCOSUR watch market skyrocketed to $X in 2021, with an increase of 28% against the previous year. Overall, consumption, however, continues to indicate a deep contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Watch Production in MERCOSUR

In value terms, watch production totaled $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt setback. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Watch Exports

Exports in MERCOSUR

For the sixth year in a row, MERCOSUR recorded decline in overseas shipments of watches, which decreased by -1.7% to X units in 2021. In general, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 when exports increased by 199% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, watch exports totaled $X in 2021. Over the period under review, exports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 18% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from Colombia (X units), Chile (X units) and Peru (X units), together amounting to 66% of total export. Paraguay (X units) took the next position in the ranking, followed by Uruguay (X units) and Brazil (X units). All these countries together held approx. 29% share of total exports. Argentina (X units) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Paraguay (with a CAGR of +17.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest watch supplying countries in MERCOSUR were Brazil ($X), Chile ($X) and Argentina ($X), with a combined 74% share of total exports.

Brazil, with a CAGR of +11.2%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per unit in 2021, surging by 8% against the previous year. Export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, watch export price decreased by -13.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 116% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Argentina ($X per unit), while Paraguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+34.7%), while the other leaders experienced mixed trends in the export price figures.

Watch Imports

Imports in MERCOSUR

In 2021, the amount of watches imported in MERCOSUR skyrocketed to X units, with an increase of 52% against the previous year. Overall, imports enjoyed a moderate expansion. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, watch imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a pronounced curtailment. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Paraguay was the major importing country with an import of around X units, which resulted at 58% of total imports. Chile (X units) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Peru (5.8%), Argentina (5.4%), Brazil (4.7%) and Colombia (4.6%).

Paraguay was also the fastest-growing in terms of the watches imports, with a CAGR of +30.2% from 2012 to 2021. At the same time, Chile (+9.8%) displayed positive paces of growth. Peru experienced a relatively flat trend pattern. By contrast, Colombia (-3.9%), Argentina (-5.2%) and Brazil (-15.3%) illustrated a downward trend over the same period. Paraguay (+50 p.p.) and Chile (+6.1 p.p.) significantly strengthened its position in terms of the total imports, while Peru, Colombia, Argentina and Brazil saw its share reduced by -3.7%, -5.4%, -7.9% and -26.8% from 2012 to 2021, respectively.

In value terms, Chile ($X), Colombia ($X) and Brazil ($X) were the countries with the highest levels of imports in 2021, with a combined 57% share of total imports. These countries were followed by Paraguay, Argentina and Peru, which together accounted for a further 26%.

In terms of the main importing countries, Paraguay, with a CAGR of +7.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MERCOSUR stood at $X per unit in 2021, declining by -10.7% against the previous year. Overall, the import price showed a abrupt decline. The pace of growth was the most pronounced in 2013 an increase of 31% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Colombia ($X per unit), while Paraguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+10.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform