United Kingdom - Jewelry - Market Analysis, Forecast, Size, Trends and Insights
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View PricingUK Jewelry Imports Drop 6% to $2.5 Billion in 2023
United Kingdom Jewelry Imports
Jewelry imports into the UK fell rapidly to 868 tons in 2023, with a decrease of -19.3% compared with the previous year. In general, imports showed a deep contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 34%. Over the period under review, imports attained the maximum at 2.3K tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.
In value terms, jewelry imports declined to $2.5B (IndexBox estimates) in 2023. Overall, imports showed a perceptible contraction. The most prominent rate of growth was recorded in 2019 with an increase of 47% against the previous year. Imports peaked at $5.4B in 2015; however, from 2016 to 2023, imports failed to regain momentum.
| COUNTRY | Import Value of Jewelry in United Kingdom (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| India | 304 | 406 | 510 | 409 | 273 | 280 | 271 | 211 | 378 | 421 | 443 |
| Italy | 147 | 192 | 290 | 212 | 219 | 246 | 265 | 200 | 186 | 282 | 348 |
| France | 1,171 | 1,214 | 1,436 | 1,109 | 1,407 | 1,315 | 2,719 | 1,044 | 507 | 271 | 294 |
| United Arab Emirates | 107 | 122 | 130 | 51.0 | 47.5 | 57.9 | 73.6 | 79.8 | 235 | 240 | 243 |
| United States | 565 | 396 | 474 | 224 | 134 | 176 | 182 | 147 | 169 | 208 | 200 |
| Switzerland | 464 | 784 | 800 | 178 | 28.0 | 64.4 | 21.2 | 14.1 | 218 | 344 | 194 |
| Thailand | 162 | 224 | 230 | 330 | 130 | 165 | 200 | 102 | 203 | 311 | 163 |
| Germany | 229 | 360 | 321 | 346 | 337 | 299 | 318 | 345 | 98.0 | 76.6 | 109 |
| Others | 747 | 1,111 | 1,237 | 604 | 460 | 526 | 544 | 495 | 607 | 479 | 492 |
| Total | 3,896 | 4,809 | 5,428 | 3,463 | 3,036 | 3,130 | 4,594 | 2,638 | 2,602 | 2,631 | 2,485 |
Imports by Country
In 2023, Italy (204 tons) constituted the largest jewelry supplier to the UK, accounting for a 24% share of total imports. Moreover, jewelry imports from Italy exceeded the figures recorded by the second-largest supplier, India (85 tons), twofold. the United States (79 tons) ranked third in terms of total imports with a 9.1% share.
From 2013 to 2023, the average annual rate of growth in terms of volume from Italy amounted to +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-3.9% per year) and the United States (+0.7% per year).
In value terms, the largest jewelry suppliers to the UK were India ($443M), Italy ($348M) and France ($294M), together comprising 44% of total imports.
In terms of the main suppliers, Italy, with a CAGR of +9.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports by Type
In 2023, silver jewelry (666 tons) constituted the largest type of jewelry supplied to the UK, accounting for a 77% share of total imports. Moreover, silver jewelry exceeded the figures recorded for the second-largest type, non-silver precious metal jewelry (85 tons), eightfold. The third position in this ranking was held by base metal jewelry clad with precious metals (69 tons), with an 8% share.
From 2013 to 2023, the average annual rate of growth in terms of the volume of silver jewelry imports stood at -5.8%. With regard to the other supplied products, the following average annual rates of growth were recorded: non-silver precious metal jewelry (-14.9% per year) and base metal jewelry clad with precious metals (+0.2% per year).
In value terms, non-silver precious metal jewelry ($2B) constituted the largest type of jewelry supplied to the UK, comprising 79% of total imports. The second position in the ranking was held by silver jewelry ($457M), with an 18% share of total imports. It was followed by base metal jewelry clad with precious metals, with a 1.7% share.
Import Prices by Country
In 2023, the jewelry price stood at $2,864,820 per ton (CIF, United Kingdom), picking up by 17% against the previous year. Over the period under review, import price indicated a tangible expansion from 2013 to 2023: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, jewelry import price decreased by -3.9% against 2021 indices. The most prominent rate of growth was recorded in 2021 an increase of 46% against the previous year. As a result, import price reached the peak level of $2,981,074 per ton. From 2022 to 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was France ($7,472,789 per ton), while the price for Spain ($358,131 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the jewelry market in the UK. 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:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Products: Market Size and Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports and Growth, By Type
- Products: Export Prices and Growth, By Type
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
