Price for Watch Movements; Complete and Assembled in Latvia - 2023

Contents:

1. Price for Watch Movements; Complete and Assembled in Latvia (FOB) - 2022
2. Price for Watch Movements; Complete and Assembled in Latvia (CIF) - 2022
3. Exports of Watch Movements; Complete and Assembled in Latvia
4. Imports of Watch Movements; Complete and Assembled in Latvia

Price for Watch Movements; Complete and Assembled in Latvia (FOB) - 2022

The average export price for watch movements; complete and assembleds stood at $6,455 per unit in 2022, increasing by 75% against the previous year. In general, the export price showed significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($10,819 per unit), while the average price for exports to the UK totaled $4,274 per unit.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+15.8%).

Price for Watch Movements; Complete and Assembled in Latvia (CIF) - 2022

In 2022, the average import price for watch movements; complete and assembleds amounted to $23 per unit, with a decrease of -38.8% against the previous year. Overall, the import price, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 an increase of 158% against the previous year. Over the period under review, average import prices attained the peak figure at $44 per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($120 per unit), while the price for Germany ($8.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+18.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Watch Movements; Complete and Assembled in Latvia

In 2022, the amount of watch movements; complete and assembleds exported from Latvia skyrocketed to 3 units, picking up by 200% against 2021. Overall, exports, however, recorded a dramatic curtailment. The exports peaked at 830 units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, watch movements; complete and assembled exports surged to $19K in 2022. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Watch Movements; Complete and Assembled from Latvia in 2022:

1. United Kingdom (2.0 units)
2. United States (1.0 units)

Imports of Watch Movements; Complete and Assembled in Latvia

Watch movements; complete and assembled imports into Latvia surged to 785 units in 2022, jumping by 718% on 2021 figures. In general, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, watch movements; complete and assembled imports skyrocketed to $18K in 2022. Overall, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Watch Movements; Complete and Assembled to Latvia in 2022:

1. Germany (621.0 units)
2. Switzerland (80.0 units)
3. Spain (70.0 units)

Source: IndexBox Market Intelligence Platform