Report Update Jan 1, 2025

Uruguay - Watches - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Uruguay: Watch Market 2025

Watch Market Size in Uruguay

In 2021, the Uruguayan watch market increased by 92% to $X, rising for the second consecutive year after two years of decline. In general, consumption posted a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Watch Exports

Exports from Uruguay

Watch exports from Uruguay rose rapidly to X units in 2021, picking up by 8.9% compared with the year before. Over the period under review, exports posted resilient growth. The pace of growth was the most pronounced in 2017 when exports increased by 980%. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, watch exports stood at $X in 2021. Overall, exports recorded strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 308%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X units), Singapore (X units) and Hungary (X units) were the main destinations of watch exports from Uruguay, with a combined 49% share of total exports. South Korea, Panama, Paraguay and Brazil lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +202.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for watch exported from Uruguay were Hong Kong SAR ($X), Hungary ($X) and South Korea ($X), with a combined 41% share of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +254.1%, 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

The average watch export price stood at $X per unit in 2021, remaining stable against the previous year. Over the period under review, the export price saw a pronounced decline. The growth pace was the most rapid in 2018 when the average export price increased by 241% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Singapore ($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 Brazil (+53.2%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Uruguay

In 2021, overseas purchases of watches increased by 139% to X units, rising for the second year in a row after two years of decline. In general, imports posted strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, watch imports surged to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.2% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of watch to Uruguay, with a 95% share of total imports. It was followed by Hong Kong SAR (X units), with a 0.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-3.1% per year) and the United States (-10.8% per year).

In value terms, China ($X) constituted the largest supplier of watches to Uruguay, comprising 12% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+10.7% per year) and the United States (+6.5% per year).

Import Prices by Country

In 2021, the average watch import price amounted to $X per unit, shrinking by -51.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 77%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+19.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for watches in the world?

South Africa remains the largest watch consuming country worldwide, accounting for 65% of total volume. Moreover, watch consumption in South Africa exceeded the figures recorded by the second-largest consumer, the United States, more than tenfold. China ranked third in terms of total consumption with a 5% share.

What are the largest producers of watches in the world?

South Africa remains the largest watch producing country worldwide, accounting for 94% of total volume. Moreover, watch production in South Africa exceeded the figures recorded by the second-largest producer, China, more than tenfold.

What are the leading suppliers of watches to Uruguay?

In value terms, the largest watch suppliers to Uruguay were China, Switzerland and Hong Kong SAR, with a combined 95% share of total imports.

What are the leading importers of watches from Uruguay?

In value terms, the largest markets for watch exported from Uruguay were the United States and Switzerland.

What is the average export price for watches in Uruguay?

The average watch export price stood at $656 per unit in 2021, which is down by -36.1% against the previous year.

What is the average import price for watches in Uruguay?

In 2021, the average watch import price amounted to $8.4 per unit, with an increase of 1.6% against the previous year.

This report provides an in-depth analysis of the watch market in Uruguay. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches

Country coverage:

Uruguay

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Uruguay
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024