Australia: Jewelry Market 2024

Jewelry Market Size in Australia

The Australian jewelry market rose markedly to $X in 2022, surging by 12% against the previous year. The market value increased at an average annual rate of +4.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Jewelry consumption peaked in 2022 and is expected to retain growth in the near future.

Jewelry Production in Australia

In value terms, jewelry production contracted to $X in 2022 estimated in export price. In general, production recorded a perceptible decline. The most prominent rate of growth was recorded in 2021 when the production volume increased by 7.8% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Jewelry Exports

Exports from Australia

In 2022, overseas shipments of jewelry increased by 20% to X tons, rising for the second year in a row after four years of decline. Overall, exports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 67% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, jewelry exports declined rapidly to $X in 2022. Over the period under review, exports, however, recorded a perceptible decline. The growth pace was the most rapid in 2017 with an increase of 39% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons), Italy (X tons) and Singapore (X tons) were the main destinations of jewelry exports from Australia, with a combined 69% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +39.9%), while the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X) remains the key foreign market for jewelry exports from Australia, comprising 37% of total exports. The second position in the ranking was held by New Zealand ($X), with a 17% share of total exports. It was followed by Hong Kong SAR, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Singapore totaled +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-0.9% per year) and Hong Kong SAR (+6.6% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2022, falling by -29.1% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 69% against the previous year. Over the period under review, the average export prices reached the maximum at $X per kg in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to Italy ($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 the UK (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Australia

In 2022, overseas purchases of jewelry were finally on the rise to reach X tons after four years of decline. Over the period under review, imports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2013 with an increase of 16%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, jewelry imports soared to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +69.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 40%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of jewelry to Australia, accounting for a 38% share of total imports. Moreover, jewelry imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-15.1% per year) and Italy (-8.6% per year).

In value terms, France ($X), Thailand ($X) and Italy ($X) appeared to be the largest jewelry suppliers to Australia, together accounting for 40% of total imports. India, the United States, China, Malaysia and New Zealand lagged somewhat behind, together accounting for a further 37%.

Among the main suppliers, Malaysia, with a CAGR of +56.7%, 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.

Import Prices by Country

In 2022, the average jewelry import price amounted to $X per kg, picking up by 14% against the previous year. In general, the import price enjoyed strong growth. The pace of growth appeared the most rapid in 2018 an increase of 45% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+39.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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