Eastern Europe: Jewelry Market 2024

Jewelry Market Size in Eastern Europe

The East European jewelry market skyrocketed to $X in 2022, increasing by 19% against the previous year. Over the period under review, consumption, however, showed a mild contraction. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Jewelry Production in Eastern Europe

In value terms, jewelry production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 32% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Jewelry Exports

Exports in Eastern Europe

In 2022, the amount of jewelry exported in Eastern Europe dropped notably to X tons, falling by -38.6% against 2021. Overall, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2021 when exports increased by 125% against the previous year. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, jewelry exports surged to $X in 2022. In general, exports, however, posted notable growth. The pace of growth was the most pronounced in 2013 with an increase of 163%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of jewelry, namely Russia, the Czech Republic and Poland, represented more than two-thirds of total export. It was distantly followed by Slovakia (X tons), making up a 4.6% share of total exports. The following exporters - Lithuania (X tons) and Estonia (X tons) - each reached a 3.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +16.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Russia ($X) and Poland ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 77% of total exports.

The Czech Republic, with a CAGR of +16.6%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per kg, growing by 95% against the previous year. Over the period under review, the export price, however, showed a perceptible decline. Over the period under review, the export prices attained the maximum at $X per kg in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per kg), while Slovakia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+6.0%), while the other leaders experienced more modest paces of growth.

Jewelry Imports

Imports in Eastern Europe

In 2022, supplies from abroad of jewelry increased by 22% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +74.0% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 54% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, jewelry imports expanded sharply to $X in 2022. Total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +60.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 43% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Poland (X tons), distantly followed by Russia (X tons), Slovakia (X tons) and the Czech Republic (X tons) represented the main importers of jewelry, together generating 89% of total imports. The following importers - Bulgaria (X tons) and Hungary (X tons) - together made up 5.8% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +17.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Russia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 75% of total imports. Slovakia, Hungary and Bulgaria lagged somewhat behind, together comprising a further 12%.

Bulgaria, with a CAGR of +22.6%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per kg in 2022, declining by -8.2% against the previous year. In general, the import price saw a noticeable reduction. The growth pace was the most rapid in 2017 when the import price increased by 20%. Over the period under review, import prices attained the maximum at $X per kg in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per kg), while Slovakia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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