Global Watch Market Overview
In value terms, watch production reached $ in estimated in export prices. Overall, production saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of % year-to-year. Over the period under review, global production hit record highs in and is likely to continue growth in the immediate term.
Free Zones ( units) constituted the country with the largest volume of watch production, accounting for % of total volume.
From 2018 to , the average annual growth rate of volume in Free Zones stood at +%.
The global watch market size expanded slightly to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the market value increased by % year-to-year. Over the period under review, the global market hit record highs at $ in 2015; however, from 2016 to , consumption remained at a lower figure.