Iceland: Jewellery Market 2020

Jewellery Market Size in Iceland

The revenue of the jewellery market in Iceland amounted to $X in 2018, reducing by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, jewellery consumption, however, continues to indicate a drastic decline. The growth pace was the most rapid in 2017 when the market value increased by X% year-to-year. Over the period under review, the jewellery market reached its maximum level at $X in 2008; however, from 2009 to 2018, consumption remained at a lower figure.

Jewellery Exports

Exports from Iceland

In 2018, the amount of jewellery exported from Iceland amounted to X kg, rising by X% against the previous year. In general, jewellery exports, however, continue to indicate an abrupt reduction. The growth pace was the most rapid in 2013 with an increase of X% year-to-year. Iceland exports peaked at X kg in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, jewellery exports stood at $X in 2018. Overall, jewellery exports, however, continue to indicate slight growth. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. In that year, jewellery exports attained their peak of $X. From 2010 to 2018, the growth of jewellery exports remained at a lower figure.

Exports by Country

Japan was the key exporter of jewellery in the world, with the volume of exports accounting for X tons, which was near X% of total exports in 2018. The U.S. (X tons) held the second position in the ranking, followed by Switzerland (X tons). All these countries together took near X% share of total exports. Italy (X tons), Thailand (X tons), Spain (X tons), India (X tons), the UK (X tons), Germany (X tons) and China (X tons) followed a long way behind the leaders.

Japan was also the fastest-growing in terms of the jewellery exports, with a CAGR of +X% from 2007 to 2018. At the same time, Switzerland (+X%), Spain (+X%), the U.S. (+X%) and Germany (+X%) displayed positive paces of growth. The UK experienced a relatively flat trend pattern. By contrast, Italy (-X%), Thailand (-X%), China (-X%) and India (-X%) illustrated a downward trend over the same period. Japan (+X p.p.), the U.S. (+X p.p.), Switzerland (+X p.p.) and Spain (+X p.p.) significantly strengthened its position in terms of the global exports, while China, Italy, Thailand and India saw its share reduced by -X%, -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), China ($X) and the U.S. ($X) were the countries with the highest levels of exports in 2018, together comprising X% of total exports. Italy, Switzerland, the UK, Thailand, Japan, Germany, Spain and Iceland lagged somewhat behind, together comprising a further X experienced the highest growth rate of exports, among the main exporting countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The jewellery export price in Iceland stood at $X per ton in 2018, going up by X% against the previous year. Over the period under review, the jewellery export price continues to indicate resilient growth. The pace of growth appeared the most rapid in 2009 when the export price increased by X% y-o-y. In that year, the export prices for jewellery reached their peak level of $X per ton. From 2010 to 2018, the growth in terms of the export prices for jewellery failed to regain its momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by India (+X% per year), while the other leaders experienced more modest paces of growth.

Jewellery Imports

Imports into Iceland

In 2018, the jewellery imports into Iceland amounted to X tons, jumping by X% against the previous year. Over the period under review, jewellery imports, however, continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, jewellery imports attained their maximum at X tons in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

In value terms, jewellery imports totaled $X in 2018. Overall, jewellery imports, however, continue to indicate a deep decrease. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Iceland imports peaked at $X in 2008; however, from 2009 to 2018, imports stood at a somewhat lower figure.

Imports by Country

Japan was the key importer of jewellery in the world, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2018. The UK (X tons) occupied a X% share (based on tons) of total imports, which put it in second place, followed by the United Arab Emirates (X%) and Switzerland (X%). The following importers - Canada (X tons), the U.S. (X tons), China, Hong Kong SAR (X tons), Sudan (X tons), Singapore (X tons), France (X tons) and Spain (X tons) - together made up X% of total imports.

From 2007 to 2018, average annual rates of growth with regard to jewellery imports into Japan stood at +X%. At the same time, Sudan (+X%), Canada (+X%), Switzerland (+X%), Singapore (+X%), the United Arab Emirates (+X%), Spain (+X%), France (+X%), the UK (+X%) and China, Hong Kong SAR (+X%) displayed positive paces of growth. Moreover, Sudan emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, the U.S. (-X%) illustrated a downward trend over the same period. Japan (+X p.p.), the UK (+X p.p.), the United Arab Emirates (+X p.p.), Switzerland (+X p.p.), Canada (+X p.p.), Sudan (+X p.p.), Singapore (+X p.p.) and China, Hong Kong SAR (+X p.p.) significantly strengthened its position in terms of the global imports, while the U.S. saw its share reduced by -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest jewellery importing markets into Iceland were China, Hong Kong SAR ($X), the United Arab Emirates ($X) and Switzerland ($X), with a combined X% share of total imports.

China, Hong Kong SAR recorded the highest rates of growth with regard to imports, among the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The jewellery import price in Iceland stood at $X per ton in 2018, reducing by -X% against the previous year. Overall, the jewellery import price continues to indicate a drastic contraction. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. Iceland import price peaked at $X per ton in 2008; however, from 2009 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China, Hong Kong SAR ($X per ton), while Sudan ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform