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

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

The Croatian precious stone and pearl market declined to $X in 2022, falling by -7.5% against the previous year. Over the period under review, consumption saw a deep setback. Precious stone and pearl consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

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

In value terms, precious stone and pearl production totaled less than $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Croatia

Precious stone and pearl exports from Croatia reduced rapidly to X tons in 2022, falling by -75.8% against 2021. In general, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,429%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, precious stone and pearl exports shrank dramatically to $X in 2022. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 176% against the previous year. The exports peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

Slovenia (X tons) was the main destination for precious stone and pearl exports from Croatia, with a 95% share of total exports. Moreover, precious stone and pearl exports to Slovenia exceeded the volume sent to the second major destination, Serbia (X kg), more than tenfold. The third position in this ranking was held by Hungary (X kg), with a 0.4% share.

From 2012 to 2022, the average annual growth rate of volume to Slovenia totaled +40.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-44.5% per year) and Hungary (-86.0% per year).

In value terms, the largest markets for precious stone and pearl exported from Croatia were Slovenia ($X), Hungary ($X) and Serbia ($X), together accounting for 95% of total exports.

Hungary, with a CAGR of +790.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, picking up by 4.5% against the previous year. Overall, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 an increase of 1,131%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+6,274.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Croatia

In 2022, imports of cultured pearls, precious or semi-precious stones into Croatia fell markedly to X kg, waning by 99.9% compared with the previous year. In general, imports showed a dramatic downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 159% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, precious stone and pearl imports skyrocketed to $X in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 107% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X kg) constituted the largest precious stone and pearl supplier to Croatia, accounting for a 43% share of total imports. Moreover, precious stone and pearl imports from China exceeded the figures recorded by the second-largest supplier, Germany (X kg), threefold. South Africa (X kg) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -53.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-48.0% per year) and South Africa (-62.9% per year).

In value terms, Belgium ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Croatia, comprising 63% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 15% share of total imports. It was followed by India, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from Belgium stood at +52.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+17.9% per year) and India (+18.7% per year).

Import Prices by Country

The average precious stone and pearl import price stood at $X per kg in 2022, increasing by 600,700% against the previous year. In general, the import price recorded significant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per kg), while the price for South Africa ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+209.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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