In 2024, the Sri Lankan precious metal watch market increased by X% to $X for the first time since 2021, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

In 2024, approx. X units of precious metal watches were exported from Sri Lanka; which is down by X% compared with 2023. Overall, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2024, the exports failed to regain momentum.

In value terms, precious metal watch exports expanded sharply to $X in 2024. Over the period under review, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked in 2024 and are likely to see gradual growth in the near future.

Australia (X units) was the main destination for precious metal watch exports from Sri Lanka, with a X% share of total exports. Moreover, precious metal watch exports to Australia exceeded the volume sent to the second major destination, Hong Kong SAR (X units), more than tenfold. The third position in this ranking was taken by the United Arab Emirates (X units), with a X% share.

From 2012 to 2024, the average annual rate of growth in terms of volume to Australia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and the United Arab Emirates (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for precious metal watches exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2024, the average annual growth rate of value to Hong Kong SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and the United Arab Emirates (X% per year).

The average precious metal watch export price stood at $X thousand per unit in 2024, with an increase of X% against the previous year. Overall, the export price showed a significant increase. The growth pace was the most rapid in 2023 an increase of X%. Over the period under review, the average export prices reached the maximum in 2024 and is expected to retain growth in years to come.

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

From 2012 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

In 2024, purchases abroad of precious metal watches was finally on the rise to reach X units after two years of decline. Overall, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2024, imports remained at a lower figure.

In value terms, precious metal watch imports stood at $X in 2024. Over the period under review, imports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2024, imports failed to regain momentum.

In 2024, Switzerland (X units) constituted the largest precious metal watch supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, precious metal watch imports from Switzerland exceeded the figures recorded by the second-largest supplier, Thailand (X units), twofold. The third position in this ranking was held by China (X units), with an X% share.

From 2012 to 2024, 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: Thailand (X% per year) and China (X% per year).

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

From 2012 to 2024, the average annual growth rate 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 Singapore (X% per year).

In 2024, the average precious metal watch import price amounted to $X per unit, reducing by X% against the previous year. In general, the import price, however, continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2023, and then fell rapidly in the following year.

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

From 2012 to 2024, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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This report provides an in-depth analysis of the precious metal watch market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

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