Scandinavia: Market for Plastic or Non-Precious Metal Watches 2025

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

In 2022, the Scandinavia market for plastic or non-precious metal watches increased by 3.7% to $X, rising for the second year in a row after seven years of decline. Over the period under review, consumption continues to indicate a mild downturn. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Plastic or Non-Precious Metal Watches in Scandinavia

In value terms, plastic or non-precious metal watch production soared to $X in 2022 estimated in export price. Over the period under review, production posted buoyant growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 639% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Plastic or Non-Precious Metal Watches

Exports in Scandinavia

In 2022, shipments abroad of plastic or non-precious metal watches decreased by -34.8% to X units, falling for the sixth consecutive year after three years of growth. Over the period under review, exports showed a slight decline. The pace of growth appeared the most rapid in 2015 when exports increased by 83%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch exports fell rapidly to $X in 2022. Overall, exports, however, recorded a modest increase. The most prominent rate of growth was recorded in 2014 when exports increased by 76%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden prevails in exports structure, accounting for X units, which was near 85% of total exports in 2022. Norway (X units) took a 9.3% share (based on physical terms) of total exports, which put it in second place, followed by Finland (6%).

From 2012 to 2022, average annual rates of growth with regard to plastic or non-precious metal watch exports from Sweden stood at -2.6%. At the same time, Norway (+7.5%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +7.5% from 2012-2022. Finland experienced a relatively flat trend pattern. From 2012 to 2022, the share of Norway increased by +5.5 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest plastic or non-precious metal watch supplier in Scandinavia, comprising 81% of total exports. The second position in the ranking was held by Norway ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden amounted to +1.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (+3.2% per year) and Finland (+0.3% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, declining by -13.6% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic or non-precious metal watch export price increased by +23.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by 43%. As a result, the export price reached the peak level of $X per unit, and then shrank in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Plastic or Non-Precious Metal Watches

Imports in Scandinavia

In 2022, approx. X units of plastic or non-precious metal watches were imported in Scandinavia; which is down by -22.1% against the year before. In general, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch imports contracted to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 32%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X units) represented the major importer of plastic or non-precious metal watches, generating 64% of total imports. Finland (X units) took the second position in the ranking, followed by Norway (X units). All these countries together took approx. 36% share of total imports.

Imports into Sweden decreased at an average annual rate of -4.9% from 2012 to 2022. Finland (-3.3%) and Norway (-7.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Finland and Sweden increased by +3.3 and +2.3 percentage points, respectively.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) constituted the countries with the highest levels of imports in 2022, with a combined 99.9% share of total imports.

In terms of the main importing countries, Norway, with a CAGR of +2.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2022, picking up by 17% against the previous year. Import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic or non-precious metal watch import price increased by +77.1% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by 19%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform