Mexico: Bracelet Market 2024

Bracelet Market Size in Mexico

The Mexican bracelet market soared to $X in 2022, growing by 19% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Bracelet consumption peaked in 2022 and is expected to retain growth in the near future.

Bracelet Production in Mexico

In value terms, bracelet production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 43% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Bracelet Exports

Exports from Mexico

In 2022, the amount of watch straps, bands and bracelets exported from Mexico amounted to X units, remaining relatively unchanged against the previous year. In general, exports recorded prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 595%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, bracelet exports stood at $X in 2022. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 772%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Hong Kong SAR (X units) and Costa Rica (X units) were the main destinations of bracelet exports from Mexico, with a combined 67% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +35.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Singapore ($X) and Switzerland ($X) appeared to be the largest markets for bracelet exported from Mexico worldwide, together comprising 72% of total exports. Hong Kong SAR, Costa Rica, Colombia, Japan and Austria lagged somewhat behind, together accounting for a further 23%.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +52.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average bracelet export price amounted to $X per unit, leveling off at the previous year. In general, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2019 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+54.8%), while the prices for the other major destinations experienced more modest paces of growth.

Bracelet Imports

Imports into Mexico

In 2022, the amount of watch straps, bands and bracelets imported into Mexico soared to X units, with an increase of 113% against the previous year. Over the period under review, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bracelet imports fell to $X in 2022. Overall, imports, however, showed a perceptible slump. The pace of growth was the most pronounced in 2019 when imports increased by 35%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of bracelet to Mexico, with a 96% share of total imports. It was followed by Switzerland (X units), with a 2.4% share of total imports. The third position in this ranking was held by Hong Kong SAR (X units), with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+6.4% per year) and Hong Kong SAR (-21.9% per year).

In value terms, China ($X) constituted the largest supplier of watch straps, bands and bracelets to Mexico, comprising 62% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 26% share of total imports. It was followed by the United States, with a 1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-2.7% per year) and the United States (-21.0% per year).

Import Prices by Country

The average bracelet import price stood at $X per unit in 2022, waning by -59.9% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 when the average import price increased by 29%. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, 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 ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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