Greece: Imitation Jewellery Market 2024

Imitation Jewellery Market Size in Greece

The Greek imitation jewellery market fell modestly to $X in 2021, reducing by -2.9% against the previous year. Overall, consumption, however, continues to indicate a noticeable contraction. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Imitation Jewellery Production in Greece

In value terms, imitation jewellery production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt curtailment. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Imitation Jewellery Exports

Exports from Greece

In 2021, overseas shipments of imitation jewelry increased by 88% to X tons, rising for the sixth consecutive year after three years of decline. Overall, exports saw a resilient increase. The pace of growth appeared the most rapid in 2019 when exports increased by 108%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, imitation jewellery exports soared to $X in 2021. Over the period under review, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +70.7% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Cyprus (X tons) and Spain (X tons) were the main destinations of imitation jewellery exports from Greece, together comprising 46% of total exports. These countries were followed by Germany, Romania, Poland, France and the Netherlands, which together accounted for a further 37%.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +62.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the key foreign market for imitation jewellery exports from Greece, comprising 22% of total exports. The second position in the ranking was taken by Spain ($X), with a 10% share of total exports. It was followed by France, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value to Italy amounted to +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+8.3% per year) and France (+14.0% per year).

Export Prices by Country

In 2021, the average imitation jewellery export price amounted to $X per ton, with a decrease of -28.5% against the previous year. In general, the export price recorded a deep downturn. The pace of growth appeared the most rapid in 2013 when the average export price increased by 39%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (-5.3%), while the prices for the other major destinations experienced a decline.

Imitation Jewellery Imports

Imports into Greece

In 2021, purchases abroad of imitation jewelry increased by 43% to X tons, rising for the third year in a row after two years of decline. In general, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 49% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, imitation jewellery imports soared to $X in 2021. Over the period under review, imports, however, saw a perceptible setback. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main imitation jewellery supplier to Greece, accounting for a 93% share of total imports. It was followed by Italy (X tons), with a 1.6% share of total imports. Spain (X tons) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.4% per year) and Spain (-7.4% per year).

In value terms, China ($X) constituted the largest supplier of imitation jewellery to Greece, comprising 50% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Spain, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.7% per year) and Spain (-1.0% per year).

Import Prices by Country

In 2021, the average imitation jewellery import price amounted to $X per ton, declining by -18.2% against the previous year. Overall, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of 33%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+26.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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