In 2024, the Vietnamese precious metal watch market increased by X% to $X, rising for the third consecutive year after three years of decline. Over the period under review, consumption showed a resilient increase. Over the period under review, the market attained the maximum level in 2024 and is likely to see steady growth in the near future.

In 2024, the amount of precious metal watches exported from Vietnam reduced to X units, falling by X% against the previous year. In general, exports, however, saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2024, the growth of the exports failed to regain momentum.

In value terms, precious metal watch exports contracted rapidly to $X in 2024. Over the period under review, exports, however, saw strong growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2024, the growth of the exports failed to regain momentum.

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

From 2012 to 2024, the average annual rate of growth in terms of volume to the United Arab Emirates totaled 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 States (X% per year).

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

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

The average precious metal watch export price stood at $X per unit in 2024, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2022 when the average export price increased by X% against the previous year. The export price peaked at $X thousand per unit in 2012; however, from 2013 to 2024, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2024, amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 Slovakia (X%), while the prices for the other major destinations experienced a decline.

In 2024, after two years of growth, there was decline in purchases abroad of precious metal watches, when their volume decreased by X% to X units. Overall, total imports indicated a tangible increase from 2012 to 2024: its volume increased at an average annual rate of X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2024, imports stood at a somewhat lower figure.

In value terms, precious metal watch imports shrank slightly to $X in 2024. In general, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2023, and then contracted slightly in the following year.

In 2024, Singapore (X units) constituted the largest supplier of precious metal watch to Vietnam, with a X% share of total imports. Moreover, precious metal watch imports from Singapore exceeded the figures recorded by the second-largest supplier, Switzerland (X units), eightfold. Portugal (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2024, the average annual growth rate of volume from Singapore stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Portugal (X% per year).

In value terms, the largest precious metal watch suppliers to Vietnam were Switzerland ($X), Singapore ($X) and Portugal ($X), together comprising X% of total imports.

Switzerland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, the average precious metal watch import price amounted to $X thousand per unit, remaining stable against the previous year. In general, the import price, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X thousand per unit. From 2022 to 2024, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was Switzerland ($X thousand per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2024, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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This report provides an in-depth analysis of the precious metal watch market in Vietnam. 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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