Slovakia: Market for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal 2022

Market Size for Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal in Slovakia

For the fifth year in a row, the Slovak market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals recorded growth in sales value, which increased by 258% to $X in 2021. Over the period under review, consumption continues to indicate a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Exports from Slovakia

In 2021, overseas shipments of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals decreased by -12.1% to X units for the first time since 2016, thus ending a four-year rising trend. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 398%. As a result, the exports reached the peak of X units, and then reduced in the following year.

In value terms, exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals skyrocketed to $X in 2021. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2014 when exports increased by 282% against the previous year. Over the period under review, the exports of reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The Czech Republic (X units), Germany (X units) and Austria (X units) were the main destinations of exports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals from Slovakia, together comprising 84% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +114.9%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) remains the key foreign market for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal exports from Slovakia, comprising 73% of total exports. The second position in the ranking was held by Austria ($X), with a 3.7% share of total exports. It was followed by Germany, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Czech Republic amounted to +45.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+45.0% per year) and Germany (+34.7% per year).

Export Prices by Country

In 2021, the average export price for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals amounted to $X per unit, rising by 39% against the previous year. Overall, the export price, however, faced a abrupt downturn. The growth pace was the most rapid in 2016 an increase of 222% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Germany ($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 Italy (-5.8%), while the prices for the other major destinations experienced a decline.

Imports of Wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal

Imports into Slovakia

In 2021, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals into Slovakia skyrocketed to X units, jumping by 183% against 2020 figures. In general, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals soared to $X in 2021. Over the period under review, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Czech Republic (X units) constituted the largest wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal supplier to Slovakia, with a 82% share of total imports. Moreover, imports of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals from the Czech Republic exceeded the figures recorded by the second-largest supplier, Switzerland (X units), sevenfold. France (X units) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from the Czech Republic amounted to +97.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+47.8% per year) and France (+32.5% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metal to Slovakia, comprising 84% of total imports. The second position in the ranking was held by Switzerland ($X), with a 7.3% share of total imports. It was followed by France, with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Czech Republic stood at +50.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-1.2% per year) and France (+23.0% per year).

Import Prices by Country

The average import price for wrist-watches, pocket-watches, stop-watches and other watches; with case of precious metal or of metal clad with precious metals stood at $X per unit in 2021, reducing by -41.6% against the previous year. Overall, the import price faced a sharp shrinkage. The pace of growth was the most pronounced in 2014 when the average import price increased by 14% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Czech Republic ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (-7.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform