The market is dominated by foreign suppliers, as imports account for 96.9% of total market size in 2023. Households drive market demand, with household spending representing 45.0% of total demand in 2023. Saudi Arabia has the third largest market size for watches and clocks regionally, with demand reaching USD401 million in 2023. The total number of companies remains unchanged in 2023. The costs of the industry decrease by 2.3% in 2023, largely driven by declining B2B costs. The industry’s profitability decreases and stands at 40.5% of production value in 2023, the third highest regionally. The industry’s exports share increases in 2023 to 82.7% of total production output. With production value of USD60.6 million, Saudi Arabia accounts for 44.1% of the Middle East and North Africa total in 2023.
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This Euromonitor industrial report provides unique information on Watches and Clocks in Saudi Arabia: 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 Saudi Arabia: 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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