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Turkey - Jewelry - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Turkey - Jewelry - Market Analysis, Forecast, Size, Trends and Insights

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Oct 6, 2023

Sharp Drop in Turkey's July 2023 Jewelry Exports to $611M

Turkey Jewelry Exports

In July 2023, overseas shipments of jewelry decreased by -6.6% to 41 tons, falling for the fourth month in a row after two months of growth. The total export volume increased at an average monthly rate of +1.5% over the period from July 2022 to July 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in August 2022 when exports increased by 38% against the previous month.

In value terms, jewelry exports declined sharply to $611M (IndexBox estimates) in July 2023. Over the period under review, exports, however, showed a modest increase. The most prominent rate of growth was recorded in August 2022 with an increase of 37% m-o-m. Turkey Jewelry Exports By Country (Million USD)

COUNTRYExport Value of Jewelry in Turkey (million USD)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
United Arab Emirates109152143195167168132125156160177194153
Iraq11516017025514210762.865.797.010594.6144114
United States37.371.573.567.478.157.660.761.285.952.896.369.160.0
Libya35.034.526.940.026.224.524.333.531.921.029.436.132.6
Kyrgyzstan23.129.923.625.325.519.417.344.516.616.624.629.527.0
Israel26.326.830.927.226.618.522.826.727.915.016.225.421.7
Germany5.38.38.712.013.29.712.59.89.26.88.27.67.6
Others191259267255268228226221282178199255196
Total542742743876747632558588707555645761611

Exports by Country

The United States (13 tons) was the main destination for jewelry exports from Turkey, with a 32% share of total exports. Moreover, jewelry exports to the United States exceeded the volume sent to the second major destination, Israel (3.4 tons), fourfold. The third position in this ranking was held by the United Arab Emirates (3.1 tons), with a 7.5% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume to the United States amounted to +3.9%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Israel (-1.1% per month) and the United Arab Emirates (-0.2% per month).

In value terms, the largest markets for jewelry exported from Turkey were the United Arab Emirates ($153M), Iraq ($114M) and the United States ($60M), with a combined 53% share of total exports.

The United States, with a CAGR of +4.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Non-silver precious metal jewelry (25 tons) was the largest type of jewelry exported from Turkey, accounting for a 62% share of total exports. Moreover, non-silver precious metal jewelry exceeded the volume of the second product type, silver jewelry (11 tons), twofold. Articles of goldsmiths' or silversmiths' wares of silver (3.8 tons) ranked third in terms of total exports with a 9.3% share.

From July 2022 to July 2023, the average monthly growth rate of the volume of export of non-silver precious metal jewelry stood at +1.7%. With regard to the other exported products, the following average monthly rates of growth were recorded: silver jewelry (+1.4% per month) and articles of goldsmiths' or silversmiths' wares of silver (+2.2% per month).

In value terms, non-silver precious metal jewelry ($599M) remains the largest type of jewelry exported from Turkey, comprising 98% of total exports. The second position in the ranking was held by silver jewelry ($9.9M), with a 1.6% share of total exports. It was followed by articles of goldsmiths' or silversmiths' wares of silver, with a 0.4% share.

From July 2022 to July 2023, the average monthly growth rate of the export volume of non-silver precious metal jewelry was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: silver jewelry (+1.4% per month) and articles of goldsmiths' or silversmiths' wares of silver (+5.0% per month).

Export Prices by Country

In July 2023, the jewelry price stood at $15.0M per ton (FOB, Turkey), falling by -14% against the previous month. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 27% m-o-m. As a result, the export price attained the peak level of $17.5M per ton, and then shrank in the following month.

There were significant differences in the average prices for the major export markets. In July 2023, the country with the highest price was the United Arab Emirates ($49.7M per ton), while the average price for exports to France ($1.4M per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the jewelry market in Turkey. 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:

  • Turkey

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Turkey
  • 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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