South-Eastern Asia: Precious Metal Watch Market 2025

Precious Metal Watch Market Size in South-Eastern Asia

The Southeast Asian precious metal watch market rose significantly to $X in 2022, growing by 6.4% against the previous year. In general, consumption, however, continues to indicate a abrupt downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Precious Metal Watch Production in South-Eastern Asia

In value terms, precious metal watch production rose sharply to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Precious Metal Watch Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of precious metal watches increased by 9.9% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2017 when exports increased by 54%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, precious metal watch exports expanded slightly to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.6% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 50%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Singapore was the key exporting country with an export of about X units, which recorded 58% of total exports. Malaysia (X units) took the second position in the ranking, distantly followed by Thailand (X units) and Vietnam (X units). All these countries together took approx. 41% share of total exports.

Exports from Singapore decreased at an average annual rate of -7.4% from 2012 to 2022. At the same time, Vietnam (+55.8%) and Malaysia (+4.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +55.8% from 2012-2022. By contrast, Thailand (-20.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia and Vietnam increased by +19 and +6.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest precious metal watch supplier in South-Eastern Asia, comprising 93% of total exports. The second position in the ranking was taken by Thailand ($X), with a 3.5% share of total exports. It was followed by Malaysia, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled +3.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+9.9% per year) and Malaysia (+9.1% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, falling by -7.2% against the previous year. Overall, the export price, however, showed a resilient increase. The growth pace was the most rapid in 2019 an increase of 79% against the previous year. The level of export peaked at $X per unit in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+38.2%), while the other leaders experienced more modest paces of growth.

Precious Metal Watch Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of precious metal watches increased by 23% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a slight downturn. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, precious metal watch imports skyrocketed to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.0% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia represented the largest importing country with an import of around X units, which resulted at 54% of total imports. Singapore (X units) ranks second in terms of the total imports with a 21% share, followed by Thailand (20%). The Philippines (X units) held a little share of total imports.

Malaysia experienced a relatively flat trend pattern with regard to volume of imports of precious metal watches. At the same time, the Philippines (+20.5%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +20.5% from 2012-2022. By contrast, Thailand (-1.2%) and Singapore (-6.0%) illustrated a downward trend over the same period. While the share of Malaysia (+9.3 p.p.) and the Philippines (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-12.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported precious metal watches in South-Eastern Asia, comprising 69% of total imports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total imports. It was followed by Thailand, with an 8.8% share.

In Singapore, precious metal watch imports expanded at an average annual rate of +3.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-2.1% per year) and Thailand (-2.1% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, with an increase of 5.3% against the previous year. Import price indicated temperate growth 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, precious metal watch import price increased by +71.0% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by 33% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+10.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform