Finland: Jewelry Market 2024

Jewelry Market Size in Finland

After two years of growth, the Finnish jewelry market decreased by -6% to $X in 2022. Over the period under review, consumption saw a pronounced descent. Jewelry consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Jewelry Production in Finland

In value terms, jewelry production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Jewelry Exports

Exports from Finland

In 2022, shipments abroad of jewelry increased by 27% to X tons, rising for the fourth consecutive year after two years of decline. In general, total exports indicated a slight increase from 2012 to 2022: its volume 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, exports increased by +57.7% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 36%. The exports peaked at X tons in 2016; afterwards, it flattened through to 2022.

In value terms, jewelry exports declined rapidly to $X in 2022. Overall, exports, however, faced a deep reduction. The pace of growth was the most pronounced in 2016 when exports increased by 34%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X kg), Estonia (X kg) and the United States (X kg) were the main destinations of jewelry exports from Finland, with a combined 75% share of total exports. Denmark, Sweden, Poland, the UK, Norway, Germany, Russia and Lithuania lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +52.7%), while the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X) remains the key foreign market for jewelry exports from Finland, comprising 36% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by Germany, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia amounted to -10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+15.7% per year) and Germany (-18.1% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2022, declining by -53.7% against the previous year. Overall, the export price faced a abrupt contraction. The pace of growth appeared the most rapid in 2018 when the average export price increased by 21%. The export price peaked at $X per kg in 2012; however, from 2013 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 Germany ($X per kg), while the average price for exports to the Netherlands ($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 Poland (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Finland

In 2022, the amount of jewelry imported into Finland reduced remarkably to X tons, falling by -27.4% on the year before. In general, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, jewelry imports shrank to $X in 2022. Over the period under review, imports recorded a pronounced decline. The pace of growth appeared the most rapid in 2021 with an increase of 24%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Thailand (X tons) and Estonia (X tons) were the main suppliers of jewelry imports to Finland, together accounting for 48% of total imports. Italy, Germany, India, Norway, the United States, the UK and Sweden lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +29.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest jewelry suppliers to Finland were India ($X), Italy ($X) and Germany ($X), together accounting for 46% of total imports. Thailand, China, Estonia, Sweden, the United States, the UK and Norway lagged somewhat behind, together comprising a further 33%.

In terms of the main suppliers, Norway, with a CAGR of +16.7%, recorded the highest growth rate of 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

The average jewelry import price stood at $X per kg in 2022, jumping by 27% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 28% against the previous year. The import price peaked at $X per kg in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :