Netherlands: Watch Market 2024

Watch Market Size in the Netherlands

In 2021, the Dutch watch market increased by 53% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Watch consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Watch Production in the Netherlands

In value terms, watch production shrank remarkably to $X in 2021 estimated in export price. Overall, production faced a deep 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 from the Netherlands

In 2021, exports of watches from the Netherlands contracted to X units, standing approx. at the year before. In general, total exports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +9.1% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 43%. 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 surged to $X in 2021. Overall, exports, however, showed strong growth. The pace of growth was the most pronounced in 2016 with an increase of 45% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units), France (X units) and the UK (X units) were the main destinations of watch exports from the Netherlands, together comprising 63% of total exports. Belgium, Poland, Spain, Italy, Hong Kong SAR, Switzerland, Sweden and Finland lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +28.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for watch exported from the Netherlands were Germany ($X), Switzerland ($X) and France ($X), with a combined 56% share of total exports. The UK, Italy, Belgium, Poland, Hong Kong SAR, Spain, Sweden and Finland lagged somewhat behind, together accounting for a further 32%.

Poland, with a CAGR of +55.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average watch export price stood at $X per unit in 2021, rising by 24% against the previous year. In general, the export price continues to indicate buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Finland ($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 Poland (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into the Netherlands

In 2021, overseas purchases of watches increased by 12% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 22%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, watch imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of watch to the Netherlands, with a 60% share of total imports. Moreover, watch imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sixfold. The third position in this ranking was held by Ireland (X units), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.1% per year) and Ireland (+56.4% per year).

In value terms, the largest watch suppliers to the Netherlands were Switzerland ($X), China ($X) and Germany ($X), with a combined 61% share of total imports. France, Ireland, the Philippines, Belgium and Hong Kong SAR lagged somewhat behind, together comprising a further 23%.

Ireland, with a CAGR of +82.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average watch import price stood at $X per unit in 2021, picking up by 30% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :