Australia: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2024

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in Australia

The Australian precious stone and pearl market shrank dramatically to $X in 2022, dropping by -21.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +42.7% against 2020 indices. As a result, consumption reached the peak level of $X, and then declined rapidly in the following year.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Australia

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were exported from Australia; dropping by -26.9% against the year before. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2019 when exports increased by 110% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, precious stone and pearl exports reduced sharply to $X in 2022. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 18% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for precious stone and pearl exports from Australia, accounting for a 74% share of total exports. Moreover, precious stone and pearl exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), eightfold. The third position in this ranking was held by Thailand (X tons), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-9.0% per year) and Thailand (-3.8% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and Singapore ($X) appeared to be the largest markets for precious stone and pearl exported from Australia worldwide, together comprising 64% of total exports. Thailand, New Zealand, Germany and the UK lagged somewhat behind, together comprising a further 19%.

The UK, with a CAGR of +8.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, shrinking by -20.9% 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 2020 an increase of 59% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+33.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Australia

In 2022, the amount of cultured pearls, precious or semi-precious stones imported into Australia reduced remarkably to X tons, dropping by -18.2% against the previous year's figure. Overall, imports, however, continue to indicate mild growth. The growth pace was the most rapid in 2019 with an increase of 65% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, precious stone and pearl imports fell sharply to $X in 2022. In general, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 109%. As a result, imports reached the peak of $X, and then shrank significantly in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest precious stone and pearl supplier to Australia, with a 33% share of total imports. Moreover, precious stone and pearl imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Madagascar (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.0% per year) and Madagascar (+23.2% per year).

In value terms, India ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Australia, comprising 57% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 10% share of total imports. It was followed by the United States, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+1.2% per year) and the United States (-4.4% per year).

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, shrinking by -7.5% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 90% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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