Singapore: Rough Watch Movements Market 2024

Rough Watch Movements Market Size in Singapore

The Singaporean rough watch movements market dropped modestly to $X in 2021, leveling off at the previous year. In general, consumption saw resilient growth. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Rough Watch Movements Production in Singapore

In value terms, rough watch movements production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 3.5%. As a result, production attained the peak level of $X, and then declined slightly in the following year.

Rough Watch Movements Exports

Exports from Singapore

In 2021, approx. X units of rough watch movements were exported from Singapore; with an increase of 820% on the previous year's figure. Over the period under review, exports, however, showed a precipitous setback. The most prominent rate of growth was recorded in 2015 when exports increased by 9,250%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, rough watch movements exports soared to $X in 2021. Overall, exports recorded a strong increase. The pace of growth was the most pronounced in 2015 when exports increased by 13,618%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X units), Switzerland (X units) and Japan (X units) were the main destinations of rough watch movements exports from Singapore, together accounting for 67% of total exports. These countries were followed by Hong Kong SAR, Brunei Darussalam, the Philippines, Thailand, Indonesia, the United States and Macao SAR, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rough watch movements exported from Singapore were Germany ($X), Switzerland ($X) and Hong Kong SAR ($X), together comprising 68% of total exports. Japan, Thailand, Indonesia, the Philippines, Macao SAR, the United States, Malaysia, China and Brunei Darussalam lagged somewhat behind, together accounting for a further 30%.

Among the main countries of destination, Macao SAR, with a CAGR of +183.2%, saw 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 2021, the average rough watch movements export price amounted to $X per unit, declining by -29.7% against the previous year. Over the period under review, the export price, however, recorded significant growth. The growth pace was the most rapid in 2020 an increase of 20,053%. As a result, the export price reached the peak level of $X per unit, and then fell notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per unit), while the average price for exports to Brunei Darussalam ($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 Indonesia (+442.5%), while the prices for the other major destinations experienced more modest paces of growth.

Rough Watch Movements Imports

Imports into Singapore

After two years of decline, purchases abroad of rough watch movements increased by 34% to X units in 2021. In general, imports, however, continue to indicate a slight reduction. The growth pace was the most rapid in 2015 with an increase of 7,448% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, rough watch movements imports soared to $X in 2021. Over the period under review, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2015 when imports increased by 9,677% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main supplier of rough watch movements to Singapore, accounting for a approx. 99% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -1.5%.

In value terms, China ($X) constituted the largest supplier of rough watch movements to Singapore, comprising 2.9% of total imports. The second position in the ranking was taken by Malaysia ($X), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -1.2%.

Import Prices by Country

The average rough watch movements import price stood at $X per unit in 2021, reducing by -6% against the previous year. Over the period under review, the import price, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 an increase of 71%. Over the period under review, average import prices reached the maximum at $X per unit in 2020, and then shrank in the following year.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.3% per year.

Source: IndexBox Platform

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