The market is dominated by foreign suppliers, as imports account for 58.1% of total market size in 2023. Households drive market demand, with household spending representing 84.5% of total demand in 2023. Mexico has the largest market size for watches and clocks regionally, with demand reaching USD1.3 billion in 2023. Relojes Olvera Tercera Generacion is the largest company in Mexico, generating 8.1% of the industry’s total production value in 2023. The industry is fragmented, with the top four companies generating 15.4% of total production value in 2023. The total number of companies increases in 2023, to 2,335 units. The costs of the industry increase by 36.2% in 2023, largely driven by rising B2B costs. The industry’s profitability increases and stands at 11.1% of production value in 2023, the 11th highest regionally. The industry’s exports share decreases in 2023 to 6.0% of total production output. With production value of USD487 million, Mexico accounts for 39.2% of the Latin America total in 2023.
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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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