Romania: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in Romania

The Romanian market for plastic or non-precious metal watches shrank notably to $X in 2022, declining by -26.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a prominent expansion. As a result, consumption reached the peak level of $X, and then shrank rapidly in the following year.

Exports of Plastic or Non-Precious Metal Watches

Exports from Romania

In 2022, exports of plastic or non-precious metal watches from Romania fell modestly to X units, reducing by -2.9% compared with the year before. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 56% against the previous year. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, plastic or non-precious metal watch exports reached $X in 2022. Over the period under review, exports, however, saw a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 61% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Bulgaria (X units), the Netherlands (X units) and Hungary (X units) were the main destinations of plastic or non-precious metal watch exports from Romania, with a combined 46% share of total exports. France, Germany, Saudi Arabia, the United Arab Emirates, Poland, Moldova, Austria, the Czech Republic, Italy and Spain lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +141.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Bulgaria ($X) and the Netherlands ($X) were the largest markets for plastic or non-precious metal watch exported from Romania worldwide, with a combined 51% share of total exports. Germany, the United Arab Emirates, Austria, France, Saudi Arabia, Hungary, Poland, the Czech Republic, Moldova and Spain lagged somewhat behind, together comprising a further 36%.

Austria, with a CAGR of +192.1%, saw the highest growth rate of 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

In 2022, the average export price for plastic or non-precious metal watches amounted to $X per unit, picking up by 3% against the previous year. Over the period under review, the export price saw a resilient expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 164%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Spain ($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 Italy (+55.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Romania

Plastic or non-precious metal watch imports into Romania declined significantly to X units in 2022, waning by -31.1% against 2021 figures. Overall, imports saw a mild shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 28%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, plastic or non-precious metal watch imports fell rapidly to $X in 2022. In general, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 35% against the previous year. As a result, imports reached the peak of $X, and then dropped remarkably in the following year.

Imports by Country

Germany (X units), Hong Kong SAR (X units) and China (X units) were the main suppliers of plastic or non-precious metal watch imports to Romania, together accounting for 59% of total imports. Poland, France, Switzerland, Spain, Lithuania, the Netherlands, the Czech Republic, Hungary and Slovenia lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +109.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic or non-precious metal watch suppliers to Romania were Germany ($X), Switzerland ($X) and France ($X), together accounting for 60% of total imports. Hong Kong SAR, the Netherlands, Poland, China, Spain, Lithuania, Hungary, the Czech Republic and Slovenia lagged somewhat behind, together comprising a further 21%.

Lithuania, with a CAGR of +85.9%, saw 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 more modest paces of growth.

Import Prices by Country

The average import price for plastic or non-precious metal watches stood at $X per unit in 2022, growing by 14% against the previous year. In general, the import price saw prominent growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by 32%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform