EU: Jewelry Market 2024

Jewelry Market Size in the EU

The EU jewelry market fell to $X in 2022, with a decrease of -8.8% against the previous year. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +24.6% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Jewelry Production in the EU

In value terms, jewelry production surged to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +69.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 45%. The level of production peaked in 2022 and is expected to retain growth in the immediate term.

Jewelry Exports

Exports in the EU

In 2022, shipments abroad of jewelry increased by 7.3% to X tons, rising for the second consecutive year after eight years of decline. Over the period under review, exports, however, saw a slight downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 25% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, jewelry exports expanded markedly to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 36%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

The shipments of the three major exporters of jewelry, namely Italy, Spain and France, represented more than two-thirds of total export. Germany (X tons) took the next position in the ranking, followed by Ireland (X tons). All these countries together took near 15% share of total exports. The Netherlands (X tons) and Denmark (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +18.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 84% of total exports. Ireland, Spain, the Netherlands and Denmark lagged somewhat behind, together accounting for a further 12%.

Ireland, with a CAGR of +33.8%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per kg, with an increase of 4.6% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jewelry export price increased by +14.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by 22% against the previous year. The level of export peaked at $X per kg in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per kg), while Spain ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+12.5%), while the other leaders experienced more modest paces of growth.

Jewelry Imports

Imports in the EU

In 2022, purchases abroad of jewelry increased by 8.6% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, recorded a mild slump. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, jewelry imports expanded markedly to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +38.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 24%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

France (X tons) and Spain (X tons) were the major importers of jewelry in 2022, finishing at approx. 25% and 19% of total imports, respectively. Germany (X tons) ranks next in terms of the total imports with a 12% share, followed by Italy (11%), Poland (4.9%) and Ireland (4.5%). The Netherlands (X tons), Sweden (X tons), Greece (X tons), Belgium (X tons), Cyprus (X tons) and Denmark (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +12.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constitutes the largest market for imported jewelry in the European Union, comprising 33% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by Italy, with a 16% share.

In France, jewelry imports increased at an average annual rate of +4.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+2.5% per year) and Italy (+3.3% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per kg, surging by 2.5% against the previous year. Import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jewelry import price decreased by -4.2% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 19%. As a result, import price reached the peak level of $X per kg. From 2020 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per kg), while Cyprus ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+29.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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