MERCOSUR: 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 MERCOSUR

In 2021, the MERCOSUR market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals increased by 11% to $X, rising for the third consecutive year after six years of decline. Over the period under review, consumption, however, recorded a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

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

In value terms, production of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals totaled $X in 2021 estimated in export price. In general, production showed a abrupt contraction. Over the period under review, production of attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat 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 in MERCOSUR

In 2021, shipments abroad of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals increased by 27% to X units, rising for the second consecutive year after four years of decline. In general, exports, however, saw a perceptible slump. The pace of growth was the most pronounced in 2020 when exports increased by 122% against the previous year. Over the period under review, the exports of hit record highs at X units in 2015; however, from 2016 to 2021, the exports remained at a 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 declined to $X in 2021. Overall, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2020 when exports increased by 80% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Peru was the major exporting country with an export of around X units, which finished at 43% of total exports. It was distantly followed by Colombia (X units), Ecuador (X units), Brazil (X units) and Paraguay (X units), together constituting a 53% share of total exports. The following exporters - Argentina (X units) and Chile (X units) - each amounted to a 3.6% share of total exports.

Exports from Peru increased at an average annual rate of +17.5% from 2012 to 2021. At the same time, Paraguay (+108.6%), Ecuador (+27.2%) and Brazil (+14.3%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +108.6% from 2012-2021. Colombia experienced a relatively flat trend pattern. By contrast, Chile (-9.9%) and Argentina (-34.8%) illustrated a downward trend over the same period. Peru (+36 p.p.), Ecuador (+13 p.p.), Brazil (+9.1 p.p.), Colombia (+6.9 p.p.) and Paraguay (+6.8 p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by -61.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal supplier in MERCOSUR, comprising 72% of total exports. The second position in the ranking was held by Chile ($X), with a 16% share of total exports. It was followed by Argentina, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value in Brazil totaled +36.5%. In the other countries, the average annual rates were as follows: Chile (-1.4% per year) and Argentina (-13.1% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per unit in 2021, which is down by -32.8% against the previous year. In general, the export price, however, continues to indicate resilient growth. The pace of growth was the most pronounced in 2016 when the export price increased by 374%. Over the period under review, the export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+33.2%), while the other leaders experienced more modest paces of growth.

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

Imports in MERCOSUR

After two years of decline, supplies from abroad of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals increased by 36% to X units in 2021. In general, imports continue to indicate slight growth. The most prominent rate of growth was recorded in 2015 with an increase of 90%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports of 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 surged to $X in 2021. Over the period under review, imports, however, recorded a pronounced contraction. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Venezuela represented the major importer of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals in MERCOSUR, with the volume of imports resulting at X units, which was near 65% of total imports in 2021. Paraguay (X units) held the second position in the ranking, followed by Brazil (X units). All these countries together held approx. 32% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal imports into Venezuela stood at +3.6%. At the same time, Paraguay (+17.5%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +17.5% from 2012-2021. By contrast, Brazil (-4.3%) illustrated a downward trend over the same period. While the share of Paraguay (+13 p.p.) and Venezuela (+12 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Brazil (-9 p.p.) displayed negative dynamics.

In value terms, the largest wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal importing markets in MERCOSUR were Venezuela ($X), Brazil ($X) and Paraguay ($X), with a combined 52% share of total imports.

In terms of the main importing countries, Paraguay, with a CAGR of +41.8%, recorded the highest growth rate of 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

In 2021, the import price in MERCOSUR amounted to $X per unit, rising by 4.8% against the previous year. Overall, the import price, however, recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2016 when the import price increased by 145% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+20.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform