Ethiopia: Jewelry Market 2024

Jewelry Market Size in Ethiopia

After four years of growth, the Ethiopian jewelry market decreased by -0.2% to $X in 2022. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +110.8% against 2017 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Jewelry Production in Ethiopia

In value terms, jewelry production stood at $X in 2022 estimated in export price. Over the period under review, production enjoyed slight growth. The growth pace was the most rapid in 2014 with an increase of 82%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Jewelry Exports

Exports from Ethiopia

In 2022, overseas shipments of jewelry decreased by -8.6% to X kg, falling for the fifth consecutive year after two years of growth. Over the period under review, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 261%. As a result, the exports reached the peak of X kg. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, jewelry exports reduced to $X in 2022. Overall, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 71% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for jewelry exports from Ethiopia, with a 47% share of total exports. Moreover, jewelry exports to the United States exceeded the volume sent to the second major destination, Israel (X kg), eightfold. The third position in this ranking was held by France (X kg), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+11.6% per year) and France (-2.8% per year).

In value terms, the United States ($X) remains the key foreign market for jewelry exports from Ethiopia, comprising 62% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Canada, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-23.6% per year) and Canada (-12.7% per year).

Export Prices by Country

In 2022, the average jewelry export price amounted to $X per kg, declining by -4.9% against the previous year. Overall, the export price, however, showed mild growth. The most prominent rate of growth was recorded in 2014 an increase of 232%. As a result, the export price attained the peak level of $X per kg. From 2015 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 the United Arab Emirates ($X per kg), while the average price for exports to Belgium ($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 Ireland (+123.6%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Ethiopia

In 2022, approx. X tons of jewelry were imported into Ethiopia; with a decrease of -29% compared with the previous year. In general, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 2,054% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined significantly in the following year.

In value terms, jewelry imports fell dramatically to $X in 2022. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 28,201%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main jewelry supplier to Ethiopia, accounting for a 92% share of total imports. Moreover, jewelry imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the UK (X tons), more than tenfold. The third position in this ranking was held by China (X kg), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +142.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+51.7% per year) and China (+9.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of jewelry to Ethiopia, comprising 99% of total imports. The second position in the ranking was held by the UK ($X), with a 0.9% share of total imports. It was followed by Turkey, with a 0.1% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled +187.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+35.1% per year) and Turkey (-20.2% per year).

Import Prices by Country

The average jewelry import price stood at $X per kg in 2022, waning by -17.3% against the previous year. Overall, the import price, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 1,214%. Over the period under review, average import prices reached the peak figure at $X per kg in 2016; however, from 2017 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 the United Arab Emirates ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+18.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform