Cameroon: Jewelry Market 2024

Jewelry Market Size in Cameroon

The Cameroonian jewelry market shrank slightly to $X in 2022, waning by -2.7% against the previous year. In general, consumption showed a deep setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Jewelry Production in Cameroon

In value terms, jewelry production contracted slightly to $X in 2022 estimated in export price. In general, production saw a abrupt slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 14% against the previous year. Jewelry production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Jewelry Exports

Exports from Cameroon

Jewelry exports from Cameroon rose sharply to X kg in 2022, growing by 8% compared with the previous year. Overall, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2017 when exports increased by 211%. Over the period under review, the exports hit record highs at X kg in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, jewelry exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2016 with an increase of 78% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

France (X kg), the United States (X kg) and Canada (X kg) were the main destinations of jewelry exports from Cameroon, with a combined 63% 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 France (with a CAGR of +34.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for jewelry exports from Cameroon, comprising 69% of total exports. The second position in the ranking was held by Italy ($X), with a 16% share of total exports. It was followed by Canada, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-2.5% per year) and Canada (+2.0% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2022, jumping by 20% against the previous year. Over the period under review, the export price, however, faced a abrupt slump. The growth pace was the most rapid in 2019 an increase of 199%. Over the period under review, the average export prices reached the maximum at $X per kg in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Spain ($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 Belgium (+337.5%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Cameroon

In 2022, approx. X kg of jewelry were imported into Cameroon; with an increase of 53% compared with the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 173%. Over the period under review, imports hit record highs at X kg in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, jewelry imports surged to $X in 2022. Overall, imports saw a measured increase. The growth pace was the most rapid in 2017 with an increase of 338%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X kg) constituted the largest jewelry supplier to Cameroon, accounting for a 39% share of total imports. Moreover, jewelry imports from China exceeded the figures recorded by the second-largest supplier, Italy (X kg), fourfold. Belgium (X kg) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-5.8% per year) and Belgium (-7.8% per year).

In value terms, the largest jewelry suppliers to Cameroon were France ($X), Italy ($X) and Belgium ($X), with a combined 47% share of total imports. The United States, Germany, China and Thailand lagged somewhat behind, together accounting for a further 4.6%.

In terms of the main suppliers, Thailand, with a CAGR of +71.9%, saw the highest rates of growth with regard to 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, declining by -10.3% against the previous year. In general, the import price, however, posted a tangible increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 302%. The import price peaked at $X per kg in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+49.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform