HS Code:
The 'With automatic winding' category, typically classified under HS Code 9102.21, pertains to wristwatches that feature an automatic winding mechanism, also known as self-winding watches. These timepieces wind themselves through the natural motion of the wearer's wrist, eliminating the need for manual winding. This category is part of the broader horology industry, which includes luxury and precision timekeeping devices. The global trade of automatic winding watches is driven by demand for luxury goods, craftsmanship, and technological innovation in watchmaking. Key production hubs are located in countries with a strong heritage in horology, while consumption is widespread across high-income markets.
Total Trade Volume
USD 8.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Switzerland)
Growing demand for luxury automatic watches in emerging markets
Increased exports to countries like China and India, driving trade volume growth of 8% annually
2022
Shift towards sustainable and ethically sourced materials
Manufacturers adopting eco-friendly practices, influencing consumer preference and increasing production costs by 5-10%
2021
Integration of smart technology in traditional automatic watches
Hybrid watches combining mechanical and digital features are gaining traction, expanding market share by 3% in developed regions
2023
A revised trade agreement between Switzerland and the EU has reduced tariffs on luxury watches, including automatic winding models, to 0% for EU member states.
January 2023
Expected to increase Swiss exports to the EU by 10% over the next two years, strengthening market dominance.
Chinese authorities have implemented stricter regulations and penalties for counterfeit luxury watches, including automatic winding models, to protect intellectual property.
March 2023
Likely to boost consumer confidence in authentic products, benefiting legitimate exporters with a projected 5% trade volume increase.
The United States imposed a temporary 7.5% tariff on certain luxury imports, including automatic watches, as part of a broader trade dispute with the EU.
October 2022
May reduce competitiveness of European exports to the US market, potentially decreasing trade volume by 3-4% in the short term.