Indonesia: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2024

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in Indonesia

The Indonesian precious stone and pearl market dropped to $X in 2022, waning by -6.2% against the previous year. Overall, consumption, however, recorded a remarkable increase. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Cultured Pearls, Precious Or Semi-Precious Stones in Indonesia

In value terms, precious stone and pearl production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 9.9%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Indonesia

In 2022, overseas shipments of cultured pearls, precious or semi-precious stones decreased by -30.9% to X tons, falling for the second consecutive year after three years of growth. Overall, exports recorded a dramatic downturn. The growth pace was the most rapid in 2020 with an increase of 298%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports surged to $X in 2022. In general, exports saw a abrupt decline. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Australia (X tons), Thailand (X tons) and the UK (X tons) were the main destinations of precious stone and pearl exports from Indonesia, with a combined 91% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +67.2%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for precious stone and pearl exported from Indonesia were Australia ($X), the United States ($X) and Thailand ($X), together accounting for 16% of total exports.

Australia, with a CAGR of +17.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, with an increase of 297% against the previous year. Overall, the export price showed buoyant growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 3,811%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+36.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Indonesia

In 2022, the amount of cultured pearls, precious or semi-precious stones imported into Indonesia contracted to X tons, declining by -11.2% compared with 2021 figures. Over the period under review, imports, however, showed a significant increase. The growth pace was the most rapid in 2020 when imports increased by 601% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, precious stone and pearl imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a noticeable expansion. The pace of growth was the most pronounced in 2018 with an increase of 194%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Iran (X tons), China (X tons) and Uruguay (X tons) were the main suppliers of precious stone and pearl imports to Indonesia, with a combined 51% share of total imports. India, Brazil, Hong Kong SAR, Mauritius, South Korea and Singapore lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Mauritius (with a CAGR of +29,506.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), India ($X) and Singapore ($X) constituted the largest precious stone and pearl suppliers to Indonesia, with a combined 77% share of total imports.

Among the main suppliers, India, with a CAGR of +119.1%, saw 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 precious stone and pearl import price stood at $X per ton in 2022, rising by 73% against the previous year. Over the period under review, the import price, however, faced a sharp reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 407% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+48.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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