CIS: Jewelry Market 2024

Jewelry Market Size in CIS

In 2021, the CIS jewelry market decreased by -18.7% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Jewelry Production in CIS

In value terms, jewelry production rose sharply to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 30%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Jewelry Exports

Exports in CIS

In 2021, exports of jewelry in the CIS surged to X tons, picking up by 53% against 2020. Over the period under review, exports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2013 with an increase of 206%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, jewelry exports surged to $X in 2021. In general, exports saw measured growth. The pace of growth appeared the most rapid in 2013 when exports increased by 274% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Russia represented the key exporter of jewelry in the CIS, with the volume of exports recording X tons, which was approx. 85% of total exports in 2021. It was distantly followed by Armenia (X tons), constituting a 12% share of total exports. Kazakhstan (X tons) held a relatively small share of total exports.

Exports from Russia increased at an average annual rate of +1.7% from 2012 to 2021. At the same time, Armenia (+35.9%) and Kazakhstan (+32.3%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +35.9% from 2012-2021. While the share of Armenia (+11 p.p.) and Kazakhstan (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Russia (-12.8 p.p.) displayed negative dynamics.

In value terms, the largest jewelry supplying countries in the CIS were Russia ($X), Armenia ($X) and Kazakhstan ($X), with a combined 97% share of total exports.

Among the main exporting countries, Kazakhstan, with a CAGR of +30.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per kg, dropping by -5.1% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 47% against the previous year. Over the period under review, the export prices hit record highs at $X per kg in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Kazakhstan ($X per kg), while Russia ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (-1.7%), while the other leaders experienced a decline in the export price figures.

Jewelry Imports

Imports in CIS

In 2021, jewelry imports in the CIS was estimated at X tons, flattening at 2020 figures. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 402% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, jewelry imports soared to $X in 2021. Overall, imports, however, showed a pronounced descent. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons) and Kazakhstan (X tons) represented roughly 71% of total imports in 2021. Belarus (X tons) held the next position in the ranking, distantly followed by Kyrgyzstan (X tons). All these countries together took near 22% share of total imports. The following importers - Armenia (X tons) and Azerbaijan (X tons) - together made up 5.1% of total imports.

From 2012 to 2021, the biggest increases were in Azerbaijan (with a CAGR of +36.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constitutes the largest market for imported jewelry in the CIS, comprising 59% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 19% share of total imports. It was followed by Belarus, with a 7% share.

In Russia, jewelry imports contracted by an average annual rate of -8.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+8.7% per year) and Belarus (-1.4% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per kg, increasing by 63% against the previous year. Overall, the import price, however, continues to indicate a perceptible reduction. The growth pace was the most rapid in 2020 an increase of 310% against the previous year. Over the period under review, import prices hit record highs at $X per kg in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per kg), while Kyrgyzstan ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Armenia (+18.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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