Angola: Jewelry Market 2024

Jewelry Market Size in Angola

The Angolan jewelry market rose notably to $X in 2022, picking up by 5.4% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Jewelry consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Jewelry Production in Angola

In value terms, jewelry production expanded slightly to $X in 2022 estimated in export price. In general, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.9% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 35% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Jewelry Exports

Exports from Angola

In 2022, jewelry exports from Angola shrank remarkably to X kg, which is down by -62.5% against 2021 figures. In general, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 477%. The exports peaked at X kg in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, jewelry exports contracted to $X in 2022. Over the period under review, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 173% against the previous year. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

South Africa (X kg) was the main destination for jewelry exports from Angola, with a 56% share of total exports. Moreover, jewelry exports to South Africa exceeded the volume sent to the second major destination, Portugal (X kg), fivefold. The third position in this ranking was held by the Netherlands (X kg), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to South Africa amounted to +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (0.0% per year) and the Netherlands (0.0% per year).

In value terms, Portugal ($X) remains the key foreign market for jewelry exports from Angola, comprising 97% of total exports. The second position in the ranking was held by South Africa ($X), with a 2.9% share of total exports. It was followed by France, with a 0.1% share.

From 2012 to 2022, the average annual growth rate of value to Portugal totaled +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+74.9% per year) and France (-19.0% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2022, picking up by 149% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 702%. Over the period under review, the average export prices reached the peak figure at $X per kg in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per kg), while the average price for exports to Germany ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+54.6%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Angola

In 2022, after four years of decline, there was significant growth in overseas purchases of jewelry, when their volume increased by 72% to X tons. In general, imports, however, showed a significant decline. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, jewelry imports dropped dramatically to $X in 2022. Over the period under review, imports, however, faced a deep setback. The pace of growth was the most pronounced in 2014 with an increase of 98%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X kg), Italy (X kg) and the United Arab Emirates (X kg) were the main suppliers of jewelry imports to Angola, with a combined 78% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +14.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Portugal ($X) constituted the largest supplier of jewelry to Angola, comprising 64% of total imports. The second position in the ranking was taken by India ($X), with a 17% share of total imports. It was followed by China, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value from Portugal amounted to -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+52.7% per year) and China (+21.1% per year).

Import Prices by Country

In 2022, the average jewelry import price amounted to $X per kg, waning by -51.9% against the previous year. In general, the import price, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 an increase of 288% against the previous year. As a result, import price attained the peak level of $X per kg. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per kg), while the price for Italy ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+51.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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