Ireland: Jewelry Market 2024

Jewelry Market Size in Ireland

In 2021, after two years of growth, there was significant decline in the Irish jewelry market, when its value decreased by -6.5% to $X. In general, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +52.6% against 2018 indices. Jewelry consumption peaked at $X in 2020, and then shrank in the following year.

Jewelry Production in Ireland

In value terms, jewelry production expanded notably to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 41%. Jewelry production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Jewelry Exports

Exports from Ireland

In 2021, the amount of jewelry exported from Ireland totaled X tons, growing by 11% compared with the previous year's figure. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 147%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, jewelry exports soared to $X in 2021. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2020 when exports increased by 568%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for jewelry exports from Ireland, with a 36% share of total exports. Moreover, jewelry exports to China exceeded the volume sent to the second major destination, the United States (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +229.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-0.9% per year) and the UK (-4.3% per year).

In value terms, China ($X) remains the key foreign market for jewelry exports from Ireland, comprising 31% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 13% share of total exports. It was followed by the United States, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +419.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+98.9% per year) and the United States (+20.2% per year).

Export Prices by Country

In 2021, the average jewelry export price amounted to $X per kg, with an increase of 39% against the previous year. In general, the export price continues to indicate a significant increase. The growth pace was the most rapid in 2020 an increase of 171% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per kg), while the average price for exports to the UK ($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 Hong Kong SAR (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Ireland

In 2021, approx. X tons of jewelry were imported into Ireland; dropping by -16.3% on 2020 figures. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 21%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, jewelry imports soared to $X in 2021. Over the period under review, imports, however, showed significant growth. The growth pace was the most rapid in 2020 when imports increased by 196% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

The UK (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of jewelry imports to Ireland, together accounting for 66% of total imports. These countries were followed by China, South Korea, India, the United States, Hong Kong SAR and Thailand, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +48.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of jewelry to Ireland, comprising 79% of total imports. The second position in the ranking was held by the UK ($X), with a 5.4% share of total imports. It was followed by the United States, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +78.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+1.8% per year) and the United States (+8.5% per year).

Import Prices by Country

The average jewelry import price stood at $X per kg in 2021, picking up by 70% against the previous year. Overall, the import price saw significant growth. The most prominent rate of growth was recorded in 2020 an increase of 200% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+50.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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