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

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

The Egyptian precious stone and pearl market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption, however, saw a deep slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Cultured Pearls, Precious Or Semi-Precious Stones in Egypt

In value terms, precious stone and pearl production surged to $X in 2022 estimated in export price. Over the period under review, production posted significant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 48,911,500% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Egypt

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were exported from Egypt; remaining constant against 2021. In general, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 1,677% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports declined modestly to $X in 2022. Over the period under review, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 200%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for precious stone and pearl exports from Egypt, with a 48% share of total exports. Moreover, precious stone and pearl exports to Germany exceeded the volume sent to the second major destination, Jordan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +15.3%.

In value terms, Germany ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Egypt, comprising 35% of total exports. The second position in the ranking was held by Jordan ($X), with a 0.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +11.9%.

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, waning by -3.2% against the previous year. Overall, the export price saw a deep setback. The pace of growth appeared the most rapid in 2014 an increase of 192% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-3.0%), while the prices for the other major destinations experienced a decline.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Egypt

Precious stone and pearl imports into Egypt fell significantly to X tons in 2022, dropping by -15.3% against the previous year's figure. In general, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 135% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, precious stone and pearl imports shrank rapidly to $X in 2022. Over the period under review, imports recorded a precipitous shrinkage. The growth pace was the most rapid in 2018 with an increase of 208% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main precious stone and pearl supplier to Egypt, with a 96% share of total imports. It was followed by Turkey (X tons), with a 2.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+198.0% per year) and India (+176.4% per year).

In value terms, the largest precious stone and pearl suppliers to Egypt were China ($X), India ($X) and Turkey ($X), with a combined 18% share of total imports.

Turkey, with a CAGR of +50.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average precious stone and pearl import price stood at $X per ton in 2022, reducing by -64.6% against the previous year. In general, the import price recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 161%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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