Estonia: Jewelry Market 2025

Jewelry Market Size in Estonia

The Estonian jewelry market fell to $X in 2022, with a decrease of -14.9% against the previous year. Overall, consumption recorded a pronounced setback. Jewelry consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Jewelry Production in Estonia

In value terms, jewelry production amounted to $X in 2022 estimated in export price. Overall, production saw a mild slump. The most prominent rate of growth was recorded in 2021 with an increase of 25%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Jewelry Exports

Exports from Estonia

In 2022, overseas shipments of jewelry increased by 27% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a perceptible setback. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, jewelry exports skyrocketed to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 571%. 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

Finland (X tons), Denmark (X kg) and Sweden (X kg) were the main destinations of jewelry exports from Estonia, together accounting for 69% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +13.4%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) remains the key foreign market for jewelry exports from Estonia, comprising 42% of total exports. The second position in the ranking was held by Finland ($X), with a 19% share of total exports. It was followed by Sweden, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Lithuania totaled +28.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+6.8% per year) and Sweden (-7.8% per year).

Export Prices by Country

In 2022, the average jewelry export price amounted to $X per kg, reducing by -8.4% against the previous year. Over the period under review, the export price, however, saw resilient growth. The growth pace was the most rapid in 2013 an increase of 1,128% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per kg), while the average price for exports to Denmark ($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 Lithuania (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Estonia

In 2022, approx. X tons of jewelry were imported into Estonia; growing by 18% against the year before. Over the period under review, imports posted prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 117% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, jewelry imports reached $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +47.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 39%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

Finland (X tons), China (X kg) and Italy (X kg) were the main suppliers of jewelry imports to Estonia, with a combined 68% share of total imports.

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 +32.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Italy ($X) and Finland ($X) were the largest jewelry suppliers to Estonia, with a combined 47% share of total imports.

Finland, with a CAGR of +30.1%, 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 jewelry import price amounted to $X per kg, falling by -10% against the previous year. Overall, the import price saw a perceptible contraction. The pace of growth was the most pronounced in 2020 an increase of 25%. The import price peaked at $X per kg in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform