Scandinavia: Rough Watch Movements Market 2024

Rough Watch Movements Market Size in Scandinavia

In 2021, the Scandinavia rough watch movements market decreased by -65.4% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption saw a deep setback. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Rough Watch Movements Production in Scandinavia

In value terms, rough watch movements production stood at $X in 2021 estimated in export price. The total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.5% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 76%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Rough Watch Movements Exports

Exports in Scandinavia

In 2021, overseas shipments of rough watch movements were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, rough watch movements exports soared to $X in 2021. In general, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden prevails in exports structure, accounting for X units, which was near 98% of total exports in 2021. Denmark (X units) took a little share of total exports.

Sweden was also the fastest-growing in terms of the rough watch movements exports, with a CAGR of +33.1% from 2012 to 2021. Denmark (-33.4%) illustrated a downward trend over the same period. Sweden (+90 p.p.) significantly strengthened its position in terms of the total exports, while Denmark saw its share reduced by -87.5% from 2012 to 2021, respectively.

In value terms, Sweden ($X) remains the largest rough watch movements supplier in Scandinavia, comprising 99% of total exports. The second position in the ranking was taken by Denmark ($X), with less than 0.1% share of total exports.

In Sweden, rough watch movements exports increased at an average annual rate of +64.9% over the period from 2012-2021.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, growing by 4.6% against the previous year. Overall, the export price continues to indicate significant growth. The most prominent rate of growth was recorded in 2013 an increase of 513% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Denmark totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+36.0%).

Rough Watch Movements Imports

Imports in Scandinavia

Rough watch movements imports contracted significantly to X units in 2021, which is down by -33.2% compared with 2020. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 657% against the previous year. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, rough watch movements imports reduced markedly to $X in 2021. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by 846% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Norway (X units) and Iceland (X units) prevails in imports structure, together mixing up 96% of total imports. Sweden (X units) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +18.7%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest rough watch movements importing markets in Scandinavia were Norway ($X), Iceland ($X) and Sweden ($X), with a combined 96% share of total imports.

In terms of the main importing countries, Norway, with a CAGR of +30.0%, saw the highest growth rate of 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 2021, picking up by 5.9% against the previous year. Overall, the import price, however, continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2019 when the import price increased by 1,423% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform