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

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

The Ethiopian precious stone and pearl market was estimated at $X in 2022, flattening at the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

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

In value terms, precious stone and pearl production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 41% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Ethiopia

In 2022, the amount of cultured pearls, precious or semi-precious stones exported from Ethiopia skyrocketed to X tons, picking up by 28% against 2021. Overall, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 251%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, precious stone and pearl exports expanded slightly to $X in 2022. In general, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.7% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 25%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for precious stone and pearl exports from Ethiopia, with a 60% share of total exports. Moreover, precious stone and pearl exports to Thailand exceeded the volume sent to the second major destination, India (X tons), threefold. China (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand amounted to +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+74.9% per year) and China (+62.6% per year).

In value terms, Switzerland ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Ethiopia, comprising 40% of total exports. The second position in the ranking was held by the United States ($X), with a 14% share of total exports. It was followed by Thailand, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Switzerland totaled +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.6% per year) and Thailand (+6.5% per year).

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, reducing by -18.6% against the previous year. Over the period under review, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 254% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 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 Switzerland ($X per ton), while the average price for exports to China ($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 Thailand (-2.3%), while the prices for the other major destinations experienced a decline.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Ethiopia

In 2022, imports of cultured pearls, precious or semi-precious stones into Ethiopia surged to X tons, with an increase of 50% against the year before. In general, imports showed a buoyant expansion. The growth pace was the most rapid in 2020 when imports increased by 13,050,000%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports rose markedly to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.0% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 61%. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X kg) constituted the largest precious stone and pearl supplier to Ethiopia, with a less than 0.1% share of total imports. Moreover, precious stone and pearl imports from China exceeded the figures recorded by the second-largest supplier, France (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +14.9%.

In value terms, Zambia ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Ethiopia, comprising 27% of total imports. The second position in the ranking was taken by France ($X), with a 7.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Zambia stood at -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+23.1% per year) and China (+44.9% per year).

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per kg, which is down by -27.9% against the previous year. Overall, the import price showed a perceptible decrease. The pace of growth appeared the most rapid in 2019 an increase of 4,950,220% against the previous year. As a result, import price reached the peak level of $X per kg. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zambia (+1,004.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform