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

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

In 2022, the Estonian precious stone and pearl market increased by 0.1% to $X, rising for the second year in a row after four years of decline. Overall, consumption saw buoyant growth. Precious stone and pearl consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

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

In value terms, precious stone and pearl production reduced to $X in 2022 estimated in export price. In general, production, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2013 with an increase of 10% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Estonia

Precious stone and pearl exports from Estonia soared to X tons in 2022, jumping by 18% against the previous year. In general, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 430% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports plummeted to $X in 2022. Overall, exports, however, recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by 660% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for precious stone and pearl exports from Estonia, with a 79% share of total exports. Moreover, precious stone and pearl exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +561.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+21.7% per year) and the UK (+28.9% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and the UK ($X) constituted the largest markets for precious stone and pearl exported from Estonia worldwide, with a combined 97% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +7.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, reducing by -77.2% against the previous year. Overall, the export price continues to indicate a precipitous decrease. The pace of growth appeared the most rapid in 2021 an increase of 327%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+3,921.0%), 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 Estonia

In 2022, purchases abroad of cultured pearls, precious or semi-precious stones increased by 9.1% to X tons, rising for the second consecutive year after four years of decline. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 262%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports fell notably to $X in 2022. Over the period under review, imports saw a perceptible increase. The most prominent rate of growth was recorded in 2021 with an increase of 236% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of precious stone and pearl to Estonia, with a 79% share of total imports. Moreover, precious stone and pearl imports from Russia exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold. The UK (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume from Russia amounted to +77.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.2% per year) and the UK (+804.5% per year).

In value terms, India ($X), the UK ($X) and China ($X) were the largest precious stone and pearl suppliers to Estonia, together accounting for 59% of total imports.

Among the main suppliers, the UK, with a CAGR of +284.1%, saw the highest rates of growth with regard to the value of imports, 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, declining by -38.7% against the previous year. In general, the import price showed a abrupt downturn. The pace of growth was the most pronounced in 2020 when the average import price increased by 821% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+103.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform