Germany: Jewelry Market 2024

Jewelry Market Size in Germany

After six years of growth, the German jewelry market decreased by -1% to $X in 2022. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then shrank modestly in the following year.

Jewelry Production in Germany

In value terms, jewelry production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Jewelry Exports

Exports from Germany

In 2022, after six years of decline, there was significant growth in shipments abroad of jewelry, when their volume increased by 10% to X tons. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 26%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, jewelry exports expanded notably to $X in 2022. The total export value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 23% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X tons), France (X tons) and Spain (X tons) were the main destinations of jewelry exports from Germany, with a combined 34% share of total exports. The United Arab Emirates, Poland, Belgium, Switzerland, the UK, Austria, the United States, Thailand, the Netherlands and Turkey lagged somewhat behind, together comprising a further 47%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +40.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Switzerland ($X) and Italy ($X) appeared to be the largest markets for jewelry exported from Germany worldwide, with a combined 51% share of total exports. The United States, Spain, Austria, the UK, Belgium, the Netherlands, Poland, Thailand, the United Arab Emirates and Turkey lagged somewhat behind, together accounting for a further 31%.

Spain, with a CAGR of +22.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average jewelry export price amounted to $X per kg, with an increase of 3% against the previous year. In general, export price indicated a tangible increase from 2012 to 2022: its price 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, jewelry export price increased by +25.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 21%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to the United Arab Emirates ($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 Italy (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Germany

After five years of decline, supplies from abroad of jewelry increased by 2.8% to X tons in 2022. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 15%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, jewelry imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of jewelry to Germany, accounting for a 60% share of total imports. Moreover, jewelry imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. India (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.8% per year) and India (+0.9% per year).

In value terms, the largest jewelry suppliers to Germany were Thailand ($X), Switzerland ($X) and Italy ($X), together accounting for 63% of total imports. China, India, Turkey and Hong Kong SAR lagged somewhat behind, together comprising a further 20%.

India, with a CAGR of +6.4%, saw the highest growth rate of the value of imports, in terms of 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, picking up by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2017 an increase of 16% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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