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

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

For the third year in a row, the Danish precious stone and pearl market recorded growth in sales value, which increased by 10% to $X in 2022. Over the period under review, consumption, however, enjoyed a prominent increase. Precious stone and pearl consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Denmark

In 2022, precious stone and pearl exports from Denmark contracted notably to X tons, shrinking by -99.7% against 2021. Overall, exports recorded a dramatic curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 256%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, precious stone and pearl exports contracted to $X in 2022. In general, exports, however, posted a strong increase. The growth pace was the most rapid in 2014 when exports increased by 186%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted in the following year.

Exports by Country

Norway (X kg) was the main destination for precious stone and pearl exports from Denmark, with a 56% share of total exports. Moreover, precious stone and pearl exports to Norway exceeded the volume sent to the second major destination, India (X kg), threefold. Thailand (X kg) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to Norway totaled -31.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-70.3% per year) and Thailand (-56.3% per year).

In value terms, Thailand ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Denmark, comprising 51% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 21% share of total exports. It was followed by the UK, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand amounted to +15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+3.5% per year) and the UK (+89.7% per year).

Export Prices by Country

The average precious stone and pearl export price stood at $X per kg in 2022, rising by 31,713% against the previous year. Overall, the export price continues to indicate a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+727.9%), 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 Denmark

Precious stone and pearl imports into Denmark fell slightly to X tons in 2022, reducing by -3.7% on the previous year's figure. Overall, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2015 when imports increased by 212% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.0% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of precious stone and pearl to Denmark, accounting for a 35% share of total imports. Moreover, precious stone and pearl imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.6% per year) and the United States (+21.4% per year).

In value terms, the United States ($X), India ($X) and Hong Kong SAR ($X) were the largest precious stone and pearl suppliers to Denmark, together accounting for 27% of total imports. China, Germany, Thailand, Brazil and Vietnam lagged somewhat behind, together accounting for a further 8.1%.

Vietnam, with a CAGR of +28.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, rising by 45% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 122% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :