Turkey’s watch exports increased by 42% from 2014 to 2018 as the country found buyers across a wide region, from Hong Kong, Switzerland to the Netherlands and the United Arab Emirates (UAE).
An indispensable item in the world of personal accessories for men and women, watches are subject to commercial activities both locally and internationally.
Turkey in the last five years has seen its watch exports grow substantially.
According to the Turkish Statistical Institute (TurkStat), exports of watches, parts and accessories stood at nearly $37.27 million in 2014, $34.91 million in 2015, $34.19 million in 2016, $45.89 million in 2017 and $52.96 million in 2018.
Over these five years exports increased by 42%, bringing in approximately $205.22 million.
Imports in this sector, on the other hand, declined by 17% during the same period.
As for the January-August period of the current year, foreign sales reached $26.95 million, according to TurkStat.
On the country basis from 2014 to 2018, the highest exports were made to Hong Kong at $55.49 million, followed by Switzerland with $16.58 million and the Netherlands with nearly $12.7 million.
Switzerland ranked first in Turkey’s imports with $655.36 million, followed by China with $649.73 million and Japan with $42.88 million.