Thailand: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in Thailand

The Thai market for plastic or non-precious metal watches soared to $X in 2023, increasing by X% against the previous year. In general, consumption continues to indicate a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Plastic or Non-Precious Metal Watches in Thailand

In value terms, plastic or non-precious metal watch production expanded markedly to $X in 2023 estimated in export price. Over the period under review, production saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Plastic or non-precious metal watch production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Plastic or Non-Precious Metal Watches

Exports from Thailand

In 2023, overseas shipments of plastic or non-precious metal watches decreased by X% to X units, falling for the second year in a row after two years of growth. In general, total exports indicated a temperate increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at X units in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch exports amounted to $X in 2023. Overall, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X units), the United States (X units) and Japan (X units) were the main destinations of plastic or non-precious metal watch exports from Thailand, together comprising X% of total exports. Switzerland, China, Germany, the UK and India lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for plastic or non-precious metal watches exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Hong Kong SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

Export Prices by Country

The average export price for plastic or non-precious metal watches stood at $X per unit in 2023, increasing by X% against the previous year. Over the period under review, the export price showed a resilient expansion. The growth pace was the most rapid in 2019 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports into Thailand

For the third consecutive year, Thailand recorded decline in overseas purchases of plastic or non-precious metal watches, which decreased by X% to X units in 2023. Overall, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch imports soared to $X in 2023. Over the period under review, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked in 2023 and are likely to continue growth in the near future.

Imports by Country

In 2023, Switzerland (X units) constituted the largest plastic or non-precious metal watch supplier to Thailand, accounting for a X% share of total imports. Moreover, plastic or non-precious metal watch imports from Switzerland exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by the Philippines (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Switzerland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the Philippines (X% per year).

In value terms, Switzerland ($X) constituted the largest supplier of plastic or non-precious metal watches to Thailand, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Switzerland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

Import Prices by Country

In 2023, the average import price for plastic or non-precious metal watches amounted to $X per unit, picking up by X% against the previous year. Overall, the import price posted significant growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2023 and is likely to see steady growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform