There’s nothing like a wrist watch
Wear the furriest coat, the shiniest pair of pants, or the loveliest shirt made from the finest silk. Wear a sundress, a tunic, a jumper or a skirt. Though, little else can do what a watch will do to your general appearance and countenance. While timekeeping, in general, might end up improving your conscientiousness and punctuality. That is why watches are an age-old accessory popular across regions and cultures. Made primarily from titanium, stainless steel, and ceramic, watches of the pricier variety are also made from precious metals. From an import export perspective, base metals watches and precious metal watches are treated as two different commodities.
It is amusing how time, which is all-consuming and a subject of great wonder, is contained safely in an inanimate watch. A small watch capturing the happiness and anguish that the passage of time leaves us with. But more so, the pure joy that it brings to its wearer is what defines a wristwatch. Let’s dive into the history of watch manufacturing and the import export overview of the clocks and watch market.
Watches: from walls to wrists
Portable time-telling became a reality in the 15th century. But these were mostly pocket watches notoriously prone to breakage and mechanical flaws. Wristwatches didn’t come to market until the 20th century. While before timepieces would be attached to a string-like object and were reserved for the elite, the late 19th century saw military personnel wearing wristwatches to coordinate the time of military maneuvers. Seiko, the watch manufacturer, developed the modern wristwatch around the 1950s.
Wristwatch Export Data
The common wristwatch is quickly getting replaced by a flurry of cheaply available smartwatches. The luxury segment, however, is going from strength to strength. Among the rich, wrist watches are a symbol of opulence and are worn as exquisite jewelry. The market for bejeweled wristwatches is becoming more widespread in the United States and elsewhere in the world. Clocks and watches and parts import export data suggests that watches made from precious or base metals are still produced primarily in Europe (with Switzerland at its helm) , the continent responsible for most portable time-telling inventions.
Top Exporters | Clocks and watches and parts thereof
1. Switzerland ($18.4 billion)
2. China ($4.88 billion)
3. France($1.84 billion)
4. Germany ($1.55 billion)
5. Hong Kong ($1.25 billion)
Top Exporters | Precious metal watches
1. Switzerland ($6.07 billion)
2. France ($673 million)
3. United Kingdom ($529 million)
4. Singapore ($449 million)
5. United States ($443 million)
Wristwatch Import Data
In the modern day, watches have become a method of ornamentation as opposed to a necessity. Thus, higher-income nations are the top importers of the commodity, as confirmed by clocks and watch import export data. Besides, Hong Kong and China are also top importers as well as exporters owing to their massive watch manufacturing industry. A handful of southeast Asian countries and elsewhere, Saudi Arabia and Ireland are rising in watch manufacturing.
Top Importers | Clocks and watches and parts thereof
1. Hong Kong ($5.94 billion)
2. United States ($3.43 billion)
3. China($3.25 billion)
4. Switzerland ($2.72 billion)
5. Japan ($2.17 billion)
Top Importers | Precious metal watches
1. Hong Kong ($2.04 billion)
2. Switzerland ($1.1 billion)
3. United States ($863 million)
4. China ($718 million)
5. United Kingdom ($650 million)
Watch the future
Sustainability is a key concept that will come to define the watch market in the coming years. As Gen Z customers come to the forefront of the consumer economy, the second-hand watch market will provide great opportunities to resellers and marketplaces. The luxury segment will also see growth. The overall outlook on the clocks and watch import export market is brimming with possibilities.