Brazil: Jewelry Market 2024

Jewelry Market Size in Brazil

In 2021, the Brazilian jewelry market decreased by -7.5% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, showed a prominent increase. Over the period under review, the market reached the peak level at $X in 2020, and then reduced in the following year.

Jewelry Production in Brazil

In value terms, jewelry production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 15%. Jewelry production peaked at $X in 2020, and then reduced slightly in the following year.

Jewelry Exports

Exports from Brazil

In 2021, the amount of jewelry exported from Brazil surged to X tons, picking up by 25% against 2020. Overall, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 56% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, jewelry exports skyrocketed to $X in 2021. In general, exports, however, recorded a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Ecuador (X tons) and Venezuela (X tons) were the main destinations of jewelry exports from Brazil, with a combined 63% share of total exports. Chile, El Salvador, Colombia, Panama, the UK, France, Nigeria and Peru lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the biggest increases were in the UK (with a CAGR of +27.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for jewelry exports from Brazil, comprising 56% of total exports. The second position in the ranking was taken by Chile ($X), with a 3.7% share of total exports. It was followed by Peru, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+13.4% per year) and Peru (-16.0% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2021, increasing by 17% against the previous year. Over the period under review, the export price continues to indicate moderate growth. The growth pace was the most rapid in 2013 an increase of 39%. Over the period under review, the average export prices hit record highs at $X per kg in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Peru ($X per kg), while the average price for exports to Venezuela ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Brazil

In 2021, jewelry imports into Brazil soared to X tons, jumping by 38% against 2020. Over the period under review, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, jewelry imports soared to $X in 2021. In general, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), China (X tons) and Thailand (X tons) were the main suppliers of jewelry imports to Brazil, together accounting for 85% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +24.9%), while imports for the other leaders experienced a decline.

In value terms, the largest jewelry suppliers to Brazil were the United States ($X), Italy ($X) and Thailand ($X), with a combined 73% share of total imports. These countries were followed by China, France, Switzerland and Hong Kong SAR, which together accounted for a further 23%.

China, with a CAGR of +17.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average jewelry import price stood at $X per ton in 2021, jumping by 23% against the previous year. In general, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the average import price increased by 24%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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