Iran: Jewelry Market 2024

Jewelry Market Size in Iran

The Iranian jewelry market rose remarkably to $X in 2021, picking up by 6.4% against the previous year. In general, consumption, however, continues to indicate a noticeable curtailment. Jewelry consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Jewelry Production in Iran

In value terms, jewelry production dropped to $X in 2021 estimated in export price. In general, production, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2014 with an increase of 88% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

Jewelry Exports

Exports from Iran

In 2021, the amount of jewelry exported from Iran dropped remarkably to X kg, which is down by -33.2% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 224% against the previous year. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, jewelry exports fell significantly to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 1,482%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Turkey (X kg) was the main destination for jewelry exports from Iran, with a 54% share of total exports. Moreover, jewelry exports to Turkey exceeded the volume sent to the second major destination, Austria (X kg), fourfold. Sweden (X kg) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey amounted to +57.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+29.0% per year) and Sweden (-12.7% per year).

In value terms, Turkey ($X) remains the key foreign market for jewelry exports from Iran, comprising 93% of total exports. The second position in the ranking was taken by Germany ($X), with a 4.9% share of total exports. It was followed by the United Arab Emirates, with a 1.2% share.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled +62.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+286.2% per year) and the United Arab Emirates (-38.5% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2021, picking up by 8.3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 747%. As a result, the export price attained the peak level of $X per kg. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Azerbaijan (+33,000.2%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Iran

In 2021, purchases abroad of jewelry was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, showed a sharp curtailment. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, jewelry imports rose slightly to $X in 2021. In general, imports, however, recorded a sharp setback. The most prominent rate of growth was recorded in 2017 with an increase of 53%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest jewelry supplier to Iran, with a 85% share of total imports. Moreover, jewelry imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled -21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+28.8% per year) and China (-47.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of jewelry to Iran, comprising 91% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Turkey stood at +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-50.0% per year) and China (-48.5% per year).

Import Prices by Country

The average jewelry import price stood at $X per kg in 2021, falling by -78.6% against the previous year. In general, the import price faced a abrupt slump. The most prominent rate of growth was recorded in 2014 when the average import price increased by 42% against the previous year. Over the period under review, average import prices hit record highs at $X per kg in 2017; however, from 2018 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 Turkey ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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