Cyprus: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2019

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

The revenue of the precious stone and pearl market in Cyprus amounted to $X in 2018, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, precious stone and pearl consumption, however, continues to indicate a temperate slump. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Cyprus precious stone and pearl consumption peaked at $X in 2010; however, from 2011 to 2018, consumption failed to regain its momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Cyprus

In 2018, approx. X kg of cultured pearls, precious or semi-precious stones were exported from Cyprus; declining by -X% against the previous year. Over the period under review, precious stone and pearl exports continue to indicate a drastic drop. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. In that year, precious stone and pearl exports attained their peak of X kg. From 2012 to 2018, the growth of precious stone and pearl exports failed to regain its momentum.

In value terms, precious stone and pearl exports totaled $X in 2018. Over the period under review, precious stone and pearl exports continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Over the period under review, precious stone and pearl exports reached their peak figure at $X in 2008; however, from 2009 to 2018, exports stood at a somewhat lower figure.

Exports by Country

Thailand dominates precious stone and pearl exports structure, amounting to X tons, which was near X% of total exports in 2018. The U.S. (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the cultured pearls, precious or semi-precious stones exports, with a CAGR of +X% from 2007 to 2018. At the same time, the U.S. (+X%) displayed positive paces of growth. While the share of Thailand (+X p.p.) and the U.S. (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) remains the largest precious stone and pearl supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Thailand ($X), with a X% share of global exports.

From 2007 to 2018, the average annual rate of growth in terms of value in the U.S. stood at -X%. In the other countries, the average annual rates were as follows: Thailand (+X% per year) and Cyprus (+X% per year).

Export Prices by Country

In 2018, the precious stone and pearl export price in Cyprus amounted to $X per kg, surging by X% against the previous year. Over the period under review, the precious stone and pearl export price continues to indicate strong growth. The pace of growth was the most pronounced in 2010 an increase of X% against the previous year. Cyprus export price peaked in 2018 and is expected to retain its growth in the near future.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per kg), while Thailand totaled $X per kg.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S..

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Cyprus

In 2018, approx. X tons of cultured pearls, precious or semi-precious stones were imported into Cyprus; surging by X% against the previous year. Over the period under review, precious stone and pearl imports, however, continue to indicate a temperate descent. The pace of growth appeared the most rapid in 2014 when imports increased by X% year-to-year. Over the period under review, precious stone and pearl imports attained their peak figure at X tons in 2010; however, from 2011 to 2018, imports remained at a lower figure.

In value terms, precious stone and pearl imports stood at $X in 2018. Overall, precious stone and pearl imports, however, continue to indicate a drastic shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by X% y-o-y. Over the period under review, precious stone and pearl imports reached their maximum at $X in 2016; however, from 2017 to 2018, imports remained at a lower figure.

Imports by Country

China was the main importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by China, Hong Kong SAR (X tons), Thailand (X tons), Mauritius (X tons), the U.S. (X tons) and India (X tons), together constituting a X% share of total imports. Chile (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Mauritius (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), China, Hong Kong SAR ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2018, with a combined X% share of total imports. China, Thailand, Mauritius, Cyprus and Chile lagged somewhat behind, together comprising a further X terms of the main importing countries, China recorded the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the precious stone and pearl import price in Cyprus amounted to $X per kg, increasing by X% against the previous year. In general, the precious stone and pearl import price, however, continues to indicate a drastic shrinkage. The pace of growth appeared the most rapid in 2015 when the import price increased by X% year-to-year. In that year, the import prices for cultured pearls, precious or semi-precious stones reached their peak level of $X per kg. From 2016 to 2018, the growth in terms of the import prices for cultured pearls, precious or semi-precious stones remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per kg), while Chile ($X per kg) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform