Price for Watch Movements; Complete and Assembled in Vietnam - 2021

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

In 2022, the average export price for watch movements; complete and assembleds amounted to $1.9 per unit, growing by 4.7% against the previous year. In general, the export price, however, faced a deep reduction. The most prominent rate of growth was recorded in 2020 an increase of 91%. The export price peaked at $14 per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($3.2 per unit), while the average price for exports to Portugal ($0.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (-3.4%).

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

In 2022, the average import price for watch movements; complete and assembleds amounted to $0.9 per unit, dropping by -86.9% against the previous year. In general, the import price faced a sharp contraction. The growth pace was the most rapid in 2016 an increase of 36%. Over the period under review, average import prices reached the maximum at $17 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($8.3 per unit), while the price for China stood at $0.3 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-0.5%), while the prices for the other major suppliers experienced a decline.

Exports of Watch Movements; Complete and Assembled in Vietnam

In 2022, approx. 49K units of watch movements; complete and assembleds were exported from Vietnam; flattening at the previous year. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 701% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, watch movements; complete and assembled exports rose significantly to $91K in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,429%. As a result, the exports attained the peak of $95K. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Watch Movements; Complete and Assembled in Vietnam (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	N/A	N/A	N/A	34.0	0%
Canada	N/A	N/A	N/A	3.0	0%
Portugal	N/A	N/A	N/A	3.0	0%
United Arab Emirates	N/A	13.1	N/A	0.1	-91.3%
Hong Kong SAR	4.9	N/A	37.9	N/A	178.1%
Others	1.3	82.4	48.6	50.8	239.3%
Total	6.2	95.5	86.4	91.0	144.8%

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

United Arab Emirates (undefinedK units)
Portugal (16.6K units)
Germany (10.5K units)
Canada (5.2K units)

Imports of Watch Movements; Complete and Assembled in Vietnam

In 2022, approx. 32K units of watch movements; complete and assembleds were imported into Vietnam; jumping by 294% on 2021 figures. Overall, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 2,618%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, watch movements; complete and assembled imports shrank markedly to $29K in 2022. In general, imports posted significant growth. The growth pace was the most rapid in 2021 with an increase of 2,766% against the previous year. As a result, imports reached the peak of $56K, and then contracted notably in the following year.