Report Update Nov 1, 2024

Cuba - Jewelry - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Jewelry Market 2024

Jewelry Market Size in Cuba

In 2021, after three years of decline, there was growth in the Cuban jewelry market, when its value increased by 1.1% to $X. In general, consumption, however, saw a slight descent. Jewelry consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Jewelry Production in Cuba

In value terms, jewelry production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 27%. Jewelry production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Jewelry Exports

Exports from Cuba

In 2021, approx. X kg of jewelry were exported from Cuba; rising by 356% compared with the previous year's figure. Over the period under review, exports recorded strong growth. The pace of growth appeared the most rapid in 2019 when exports increased by 1,150%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, jewelry exports fell sharply to $X in 2021. Overall, exports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 896% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Costa Rica (X kg) was the main destination for jewelry exports from Cuba, with a 79% share of total exports. Moreover, jewelry exports to Costa Rica exceeded the volume sent to the second major destination, Panama (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Costa Rica was relatively modest.

In value terms, Panama ($X) remains the key foreign market for jewelry exports from Cuba, comprising 96% of total exports. The second position in the ranking was taken by Canada ($X), with a 3.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Panama totaled -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-26.9% per year) and Costa Rica (0.0% per year).

Export Prices by Country

In 2021, the average jewelry export price amounted to $X per kg, waning by -85.7% against the previous year. In general, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 136% against the previous year. The export price peaked at $X per kg in 2020, and then dropped sharply in the following year.

Prices varied noticeably country of destination: the country with the highest price was Panama ($X per kg), while the average price for exports to Costa Rica stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+0.5%).

Jewelry Imports

Imports into Cuba

In 2021, supplies from abroad of jewelry decreased by -34.8% to X kg, falling for the second year in a row after three years of growth. In general, imports continue to indicate a perceptible descent. The growth pace was the most rapid in 2018 with an increase of 215% against the previous year. Over the period under review, imports hit record highs at X kg in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, jewelry imports skyrocketed to $X in 2021. Overall, imports, however, showed a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 510%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Panama (X kg) constituted the largest jewelry supplier to Cuba, with a 69% share of total imports. Moreover, jewelry imports from Panama exceeded the figures recorded by the second-largest supplier, Denmark (X kg), ninefold. The third position in this ranking was held by the Dominican Republic (X kg), with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from Panama amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+22.0% per year) and the Dominican Republic (+4.6% per year).

In value terms, Panama ($X) constituted the largest supplier of jewelry to Cuba, comprising 99% of total imports. The second position in the ranking was held by Germany ($X), with a 0.3% share of total imports. It was followed by Switzerland, with a 0.3% share.

From 2012 to 2021, the average annual growth rate of value from Panama totaled +33.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.7% per year) and Switzerland (-35.7% per year).

Import Prices by Country

The average jewelry import price stood at $X per kg in 2021, surging by 84% against the previous year. Over the period under review, the import price showed strong growth. The pace of growth appeared the most rapid in 2017 an increase of 317% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+35.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for jewelry in the world?

The countries with the highest volumes of in 2021 were the United States, China and India, together accounting for 29% of global consumption.

What are the largest producers of jewelry in the world?

Thailand remains the largest jewelry producing country worldwide, comprising approx. 47% of total volume. Moreover, jewelry production in Thailand exceeded the figures recorded by the second-largest producer, China, fourfold. The third position in this ranking was occupied by India, with a 5.9% share.

What are the leading suppliers of jewelry to Cuba?

In value terms, Panama constituted the largest supplier of jewelry to Cuba, comprising 91% of total imports. The second position in the ranking was occupied by Spain $572), with a 3.3% share of total imports. It was followed by Denmark, with a 2.4% share.

What are the leading importers of jewelry from Cuba?

In value terms, Canada $872) emerged as the key foreign market for jewelry exports from Cuba, comprising 78% of total exports. The second position in the ranking was occupied by Panama $244), with a 22% share of total exports.

What is the average export price for jewelry in Cuba?

In 2021, the average jewelry export price amounted to $186 per kg, declining by -97.7% against the previous year.

What is the average import price for jewelry in Cuba?

The average jewelry import price stood at $511 per kg in 2021, surging by 4.3% against the previous year.

This report provides an in-depth analysis of the jewelry market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32121330 - Articles of jewellery and parts thereof of precious metal (including plated, clad)
Prodcom 32121351 - Articles of goldsmiths
Prodcom 32121353 - Articles of goldsmiths
Prodcom 32121355 - Articles of goldsmiths

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023