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

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

The Chilean precious stone and pearl market fell rapidly to $X in 2022, dropping by -17.4% against the previous year. Overall, consumption saw a abrupt slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Cultured Pearls, Precious Or Semi-Precious Stones in Chile

In value terms, precious stone and pearl production contracted slightly to $X in 2022 estimated in export price. In general, production, however, saw a mild expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 10%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Chile

In 2022, precious stone and pearl exports from Chile soared to X tons, rising by 47% against 2021. Overall, exports saw a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 3,122%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 322% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for precious stone and pearl exports from Chile, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Thailand amounted to +8.7%.

In value terms, Thailand ($X) also remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Chile.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand totaled -19.1%.

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, with a decrease of -11.5% against the previous year. In general, the export price saw a noticeable slump. The most prominent rate of growth was recorded in 2018 an increase of 1,979% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to -25.9% per year.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Chile

Precious stone and pearl imports into Chile fell markedly to X tons in 2022, reducing by -15% against the previous year's figure. Over the period under review, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 81% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports reduced rapidly to $X in 2022. In general, total imports indicated a slight 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 +78.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 124%. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

In 2022, Uruguay (X tons) constituted the largest supplier of precious stone and pearl to Chile, with a 7.1% share of total imports. Moreover, precious stone and pearl imports from Uruguay exceeded the figures recorded by the second-largest supplier, China (X kg), more than tenfold. The third position in this ranking was taken by the United States (X kg), with a 0.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Uruguay amounted to +31.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+51.0% per year) and the United States (+55.6% per year).

In value terms, Brazil ($X), China ($X) and Hong Kong SAR ($X) appeared to be the largest precious stone and pearl suppliers to Chile, together comprising 30% of total imports. Spain, the United States, India, Israel, Uruguay, Belgium, Thailand, Panama and the UK lagged somewhat behind, together comprising a further 25%.

Uruguay, with a CAGR of +33.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 precious stone and pearl import price amounted to $X per ton, which is down by -6.1% against the previous year. Over the period under review, the import price, however, showed resilient growth. The pace of growth appeared the most rapid in 2020 an increase of 82%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for the UK ($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 (+76.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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