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United Kingdom - Jewelry - Market Analysis, Forecast, Size, Trends and Insights
Report Update: May 1, 2025

United Kingdom - Jewelry - Market Analysis, Forecast, Size, Trends and Insights

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Sep 27, 2024

UK 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.United Kingdom Jewelry Imports By Country (Million USD)

COUNTRYImport Value of Jewelry in United Kingdom (million USD)
20132014201520162017201820192020202120222023
India304406510409273280271211378421443
Italy147192290212219246265200186282348
France1,1711,2141,4361,1091,4071,3152,7191,044507271294
United Arab Emirates10712213051.047.557.973.679.8235240243
United States565396474224134176182147169208200
Switzerland46478480017828.064.421.214.1218344194
Thailand162224230330130165200102203311163
Germany22936032134633729931834598.076.6109
Others7471,1111,237604460526544495607479492
Total3,8964,8095,4283,4633,0363,1304,5942,6382,6022,6312,485

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.

Source: IndexBox Market Intelligence Platform

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:

  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 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    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 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    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, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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