Asia-Pacific: Jewelry Market 2024

Jewelry Market Size in Asia-Pacific

In 2021, the Asia-Pacific jewelry market decreased by -3.5% to $X, falling for the second year in a row after three years of growth. In general, consumption showed a pronounced contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Jewelry Production in Asia-Pacific

In value terms, jewelry production rose to $X in 2021 estimated in export price. Overall, production, however, saw a mild slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by 215%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Jewelry Exports

Exports in Asia-Pacific

In 2021, approx. X tons of jewelry were exported in Asia-Pacific; with an increase of 73% compared with 2020 figures. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 715% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, jewelry exports skyrocketed to $X in 2021. Overall, exports, however, recorded a noticeable downturn. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand dominates exports structure, recording X tons, which was approx. 90% of total exports in 2021. It was distantly followed by China (X tons), comprising a 5.9% share of total exports.

Thailand was also the fastest-growing in terms of the jewelry exports, with a CAGR of +51.1% from 2012 to 2021. At the same time, China (+14.1%) displayed positive paces of growth. Thailand (+65 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -14.8% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest jewelry supplier in Asia-Pacific, comprising 32% of total exports. The second position in the ranking was taken by Thailand ($X), with a 7.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China stood at -4.9%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per kg in 2021, which is down by -10.8% against the previous year. Overall, the export price showed a precipitous slump. The pace of growth was the most pronounced in 2019 when the export price increased by 582% against the previous year. The level of export peaked at $X per kg in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per kg), while Thailand stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-16.7%).

Jewelry Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of jewelry increased by 23% to X tons, rising for the second consecutive year after two years of decline. In general, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 415%. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, jewelry imports skyrocketed to $X in 2021. Total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand prevails in imports structure, resulting at X tons, which was approx. 79% of total imports in 2021. Hong Kong SAR (X tons) ranks second in terms of the total imports with a 6.3% share, followed by Timor-Leste (4.9%). The following importers - Japan (X tons) and Australia (X tons) - each reached a 4% share of total imports.

Imports into Thailand increased at an average annual rate of +74.8% from 2012 to 2021. At the same time, Timor-Leste (+167.0%), Japan (+7.3%) and Hong Kong SAR (+6.4%) displayed positive paces of growth. Moreover, Timor-Leste emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +167.0% from 2012-2021. By contrast, Australia (-9.6%) illustrated a downward trend over the same period. Thailand (+76 p.p.) and Timor-Leste (+4.9 p.p.) significantly strengthened its position in terms of the total imports, while Japan, Hong Kong SAR and Australia saw its share reduced by -3.8%, -10.9% and -16.6% from 2012 to 2021, respectively.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported jewelry in Asia-Pacific, comprising 50% of total imports. The second position in the ranking was held by Japan ($X), with a 5.5% share of total imports. It was followed by Australia, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Hong Kong SAR amounted to +4.6%. In the other countries, the average annual rates were as follows: Japan (+1.2% per year) and Australia (+5.1% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per kg, jumping by 25% against the previous year. Overall, the import price, however, saw a abrupt decline. The pace of growth was the most pronounced in 2019 when the import price increased by 396%. As a result, import price attained the peak level of $X per kg. From 2020 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per kg), while Timor-Leste ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+16.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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