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Hong Kong SAR, China - Jewelry - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Hong Kong SAR, China - Jewelry - Market Analysis, Forecast, Size, Trends and Insights

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May 2, 2023

Hong Kong Jewelry Prices Plummet to $42.6K per kg

Hong Kong Jewelry Import Price in January 2023

In January 2023, the jewelry price amounted to $42.6M per ton (CIF, Hong Kong), falling by -33.1% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2022 an increase of 52% against the previous month. As a result, import price attained the peak level of $71.3M per ton. From July 2022 to January 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In January 2023, the country with the highest price was India ($295M per ton), while the price for Italy ($17.3M per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was attained by Thailand (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

COUNTRYImport Price of Jewelry in Hong Kong (USD per ton)
Jan 2022Feb 2022Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023
India424,921,469308,896,358540,116,785458,742,094478,408,148566,736,092340,030,268269,564,112309,575,876508,025,924213,062,927488,363,696294,768,182
United States76,405,67170,954,80284,688,22368,331,177134,556,23593,139,057105,337,53369,709,14467,757,95169,484,603112,675,41874,425,177120,466,816
Thailand25,770,63638,290,65814,575,33324,548,33312,673,17517,333,33227,271,99117,201,05622,273,87318,749,89129,148,47124,832,812102,385,703
Japan58,745,82654,155,35043,292,37569,606,22768,887,02565,267,20055,968,80152,752,77755,779,05850,972,54847,007,95562,364,67492,041,512
United Arab Emirates53,704,43355,326,38266,143,11364,994,01564,477,34356,486,66884,812,03671,427,03264,433,68752,814,01559,010,53955,109,12655,068,373
Indonesia45,494,81046,863,33954,851,58344,470,17793,538,23039,189,01221,428,69944,639,62239,625,40742,002,73245,523,51643,457,59449,586,940
Turkey45,653,25241,062,59548,562,71347,688,67146,277,91243,308,55140,112,86943,897,16744,725,39742,917,84245,039,00644,177,38746,155,949
China27,445,19341,949,59621,196,47122,720,96622,978,47452,235,63752,976,95147,791,87855,840,53050,160,18730,807,36749,259,24618,820,139
Italy14,726,57218,775,85220,864,82011,215,83118,670,87816,903,10711,271,36310,752,88315,698,30315,211,38719,811,69912,159,59417,345,960
Average45,864,48657,737,32139,698,04836,970,51647,003,75371,250,57652,700,66464,394,54566,451,35366,598,24745,942,96663,681,86442,575,819

Hong Kong Jewelry Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In January 2023, the product with the highest price was non-silver precious metal jewelry ($97.6M per ton), while the price for articles of goldsmiths' or silversmiths' wares of silver ($661K per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was attained by silver jewelry (+11.0%), while the prices for the other products experienced more modest paces of growth.

Hong Kong Jewelry Imports

In January 2023, the amount of jewelry imported into Hong Kong soared to 31 tons, growing by 19% on December 2022 figures. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2022 when imports increased by 101% against the previous month.

In value terms, jewelry imports reduced dramatically to $1.3B (IndexBox estimates) in January 2023. Over the period under review, imports, however, continue to indicate a mild decline. The pace of growth appeared the most rapid in March 2022 with an increase of 38% m-o-m.

Hong Kong Jewelry Imports by Type

Articles of goldsmiths' or silversmiths' wares of silver (15 tons), non-silver precious metal jewelry (10 tons) and silver jewelry (5.3 tons) were the main products of jewelry imports to Hong Kong, together comprising 98% of total imports. Articles of goldsmiths' or silversmiths' wares of precious metals other than silver and base metal jewelry clad with precious metals lagged somewhat behind, together comprising a further 2.2%.

From January 2022 to January 2023, the biggest increases were in silver goldsmiths ware articles (with a CAGR of +49.5%), while purchases for the other products experienced mixed trend patterns.

In value terms, non-silver precious metal jewelry ($987M) constituted the largest type of jewelry supplied to Hong Kong, comprising 74% of total imports. The second position in the ranking was held by silver jewelry ($305M), with a 23% share of total imports. It was followed by articles of goldsmiths' or silversmiths' wares of precious metals other than silver, with a 2.1% share.

Hong Kong Jewelry Imports by Country

In January 2023, China (24 tons) constituted the largest jewelry supplier to Hong Kong, with a 75% share of total imports. Moreover, jewelry imports from China exceeded the figures recorded by the second-largest supplier, Italy (1.8 tons), more than tenfold. The United Arab Emirates (1.3 tons) ranked third in terms of total imports with a 4.3% share.

From January 2022 to January 2023, the average monthly rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Italy (+0.1% per month) and the United Arab Emirates (-3.9% per month).

In value terms, the largest jewelry suppliers to Hong Kong were China ($443M), India ($322M) and the United States ($79M), together accounting for 64% of total imports. These countries were followed by the United Arab Emirates, Thailand, Turkey, Italy, Indonesia and Japan, which together accounted for a further 18%.

Thailand, with a CAGR of +11.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the jewelry market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 32121330 - Articles of jewellery and parts thereof of precious metal (including plated, clad)
  • Prodcom 32121351 - Articles of goldsmiths
  • Prodcom 32121353 - Articles of goldsmiths
  • Prodcom 32121355 - Articles of goldsmiths

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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