HS Code:
The 'Other wrist watches, whether or not incorporating a stop watch facility' category (HS Code: 9102.91 and 9102.99) includes wrist watches that are not classified under specific subcategories such as those with precious metal cases or automatic winding mechanisms. This category encompasses a wide range of watches, including quartz, digital, and mechanical watches with base metal or other material casings. These products are popular across various consumer segments due to their affordability and functionality, making them a significant part of the global watch market.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
15% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-Switzerland FTA)
Rising demand for smartwatches with basic features
Increased competition for traditional wrist watches in this category, pushing manufacturers to integrate hybrid features.
2021-2022
Shift towards sustainable materials
Growing consumer preference for eco-friendly watches made with recycled or biodegradable materials, influencing production practices.
2020-2022
E-commerce growth in watch sales
Significant rise in online sales channels, reducing dependency on traditional retail and impacting import distribution networks.
2019-2022
The European Union introduced new certification requirements for wrist watches imported from China to ensure compliance with environmental and labor standards.
March 2023
Potential delays in imports and increased costs for Chinese manufacturers, possibly benefiting competitors from other regions.
A new trade agreement between Switzerland and India reduces tariffs on wrist watches, facilitating market access for Swiss exporters.
January 2023
Expected increase in Swiss watch exports to India, a growing market for affordable luxury and mid-range watches.
Customs authorities in the United States and Europe reported a 20% increase in seizures of counterfeit wrist watches, primarily from Southeast Asia.
June 2023
Increased scrutiny on imports may lead to stricter border controls, affecting legitimate small-scale importers.