Denmark: Jewelry Market 2024

Jewelry Market Size in Denmark

The Danish jewelry market soared to $X in 2022, jumping by 38% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Jewelry Production in Denmark

In value terms, jewelry production soared to $X in 2022 estimated in export price. Over the period under review, production, however, faced a deep slump. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Jewelry Exports

Exports from Denmark

In 2022, overseas shipments of jewelry increased by 7% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, jewelry exports surged to $X in 2022. In general, exports, however, continue to indicate a slight downturn. The pace of growth was the most pronounced in 2021 with an increase of 21%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Norway (X tons) and Sweden (X tons) were the main destinations of jewelry exports from Denmark, with a combined 45% share of total exports. The UK, Belgium, the Netherlands, the United States, Luxembourg, France, Kuwait, Italy, Poland and Finland lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +108.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Norway ($X) and Sweden ($X) were the largest markets for jewelry exported from Denmark worldwide, together comprising 44% of total exports. The UK, the United States, Italy, the Netherlands, Belgium, France, Kuwait, Luxembourg, Poland and Finland lagged somewhat behind, together accounting for a further 31%.

Kuwait, with a CAGR of +72.3%, saw the highest growth rate of the value of exports, in terms of 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 jewelry export price amounted to $X per kg, surging by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2014 an increase of 27%. The export price peaked at $X per kg in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per kg), while the average price for exports to Finland ($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 France (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Denmark

In 2022, imports of jewelry into Denmark skyrocketed to X tons, growing by 20% against the year before. Overall, imports saw a mild expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 52% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, jewelry imports dropped slightly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 31% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Thailand (X tons), China (X tons) and Italy (X tons) were the main suppliers of jewelry imports to Denmark, with a combined 45% share of total imports. Germany, India, France, the UK, the United States, the United Arab Emirates, Finland, Norway, the Netherlands and Sweden lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +52.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of jewelry to Denmark, comprising 31% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9% share of total imports. It was followed by India, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+25.1% per year) and India (+15.3% per year).

Import Prices by Country

The average jewelry import price stood at $X per kg in 2022, waning by -17.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 45%. The import price peaked at $X per kg in 2021, and then contracted rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per kg), while the price for Finland ($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 (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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