Czech Republic: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in the Czech Republic

After two years of growth, the Czech synthetic gemstones market decreased by -27% to $X in 2021. Over the period under review, consumption, however, saw buoyant growth. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Synthetic Gemstones Exports

Exports from the Czech Republic

In 2021, exports of synthetic or reconstructed precious or semi-precious stones from the Czech Republic contracted sharply to X kg, which is down by -71.4% on the previous year. Overall, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2020 when exports increased by 259%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic gemstones exports shrank rapidly to $X in 2021. Over the period under review, exports showed a noticeable reduction. The pace of growth was the most pronounced in 2013 when exports increased by 61%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X kg) was the main destination for synthetic gemstones exports from the Czech Republic, accounting for a 91% share of total exports. Moreover, synthetic gemstones exports to Germany exceeded the volume sent to the second major destination, the UK (X kg), more than tenfold. Switzerland (X kg) ranked third in terms of total exports with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-5.2% per year) and Switzerland (-15.6% per year).

In value terms, Germany ($X) remains the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from the Czech Republic, comprising 87% of total exports. The second position in the ranking was held by the UK ($X), with a 6.5% share of total exports. It was followed by Switzerland, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to -2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-6.9% per year) and Switzerland (-14.7% per year).

Export Prices by Country

The average synthetic gemstones export price stood at $X per kg in 2021, picking up by 50% against the previous year. Overall, the export price continues to indicate a slight increase. The export price peaked at $X per kg in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to the United Arab Emirates ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports into the Czech Republic

In 2021, after two years of growth, there was significant decline in overseas purchases of synthetic or reconstructed precious or semi-precious stones, when their volume decreased by -43.3% to X tons. In general, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 478%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, synthetic gemstones imports skyrocketed to $X in 2021. Overall, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2013 when imports increased by 548%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest synthetic gemstones supplier to the Czech Republic, with a 60% share of total imports. Moreover, synthetic gemstones imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+6.7% per year) and Germany (+93.5% per year).

In value terms, China ($X) constituted the largest supplier of synthetic or reconstructed precious or semi-precious stones to the Czech Republic, comprising 46% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 19% share of total imports. It was followed by Germany, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-1.9% per year) and Germany (+76.9% per year).

Import Prices by Country

In 2021, the average synthetic gemstones import price amounted to $X per ton, growing by 192% against the previous year. Over the period under review, the import price, however, saw a abrupt decline. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+16.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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