The market is dominated by foreign suppliers, as imports account for 61.8% of total market size in 2022. Households drive market demand, with household spending representing 83.5% of total demand in 2022. Mexico has the largest market size for watches and clocks regionally, with demand reaching USD1.0 billion in 2022. Relojes Olvera Tercera Generacion is the largest company in Mexico, generating 8.4% of the industry’s total production value in 2022. The industry is fragmented, with the top four companies generating 15.5% of total production value in 2022. The total number of companies decreases in 2022, to 2,131 units. The costs of the industry increase by 9.8% in 2022, largely driven by rising labour costs. The industry’s profitability decreases and stands at 12.8% of production value in 2022, the 11th highest regionally. The industry’s exports share decreases in 2022 to 8.2% of total production output. With production value of USD361 million, Mexico accounts for 37.6% of the Latin America total in 2022.
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This Euromonitor industrial report provides unique information on Watches and Clocks in Mexico: ISIC 333. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Watches and Clocks in Mexico: ISIC 333 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Household Goods is an aggregation of Furniture, Jewellery and Related Articles, Musical Instruments; Imitation Jewellery, Brushes and Other Personal Items, Sports Goods, Toys and Games, Watches and Clocks.
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