Kazakhstan: Jewelry Market 2024

Jewelry Market Size in Kazakhstan

For the third consecutive year, the Kazakh jewelry market recorded growth in sales value, which increased by 112% to $X in 2021. In general, consumption saw resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Jewelry Production in Kazakhstan

In value terms, jewelry production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2015 when the production volume increased by 39%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Jewelry Exports

Exports from Kazakhstan

In 2021, overseas shipments of jewelry decreased by -7.1% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 383% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, jewelry exports shrank markedly to $X in 2021. Over the period under review, exports, however, recorded significant growth. The growth pace was the most rapid in 2013 with an increase of 331%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Switzerland (X tons) was the main destination for jewelry exports from Kazakhstan, with a 85% share of total exports. Moreover, jewelry exports to Switzerland exceeded the volume sent to the second major destination, Singapore (X kg), more than tenfold. The third position in this ranking was held by Russia (X kg), with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Switzerland totaled +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (0.0% per year) and Russia (+29.2% per year).

In value terms, Switzerland ($X) remains the key foreign market for jewelry exports from Kazakhstan, comprising 99% of total exports. The second position in the ranking was held by Russia ($X), with a 0.7% share of total exports. It was followed by Singapore, with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Switzerland stood at +36.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+52.6% per year) and Singapore (+323.1% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2021, dropping by -45% against the previous year. Over the period under review, the export price saw a mild decline. The most prominent rate of growth was recorded in 2014 an increase of 37% against the previous year. The export price peaked at $X per kg in 2020, and then reduced notably in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Switzerland ($X per kg), while the average price for exports to Turkey ($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 Russia (+18.2%), while the prices for the other major destinations experienced mixed trend patterns.

Jewelry Imports

Imports into Kazakhstan

In 2021, approx. X tons of jewelry were imported into Kazakhstan; increasing by 106% on 2020. Overall, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, jewelry imports surged to $X in 2021. In general, imports showed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) constituted the largest jewelry supplier to Kazakhstan, with a 88% share of total imports. Moreover, jewelry imports from Russia exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Russia stood at +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+32.5% per year) and Lithuania (+43.6% per year).

In value terms, Russia ($X) constituted the largest supplier of jewelry to Kazakhstan, comprising 46% of total imports. The second position in the ranking was held by Italy ($X), with a 5.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Russia totaled +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.0% per year) and Lithuania (+24.6% per year).

Import Prices by Country

In 2021, the average jewelry import price amounted to $X per kg, shrinking by -3.1% against the previous year. In general, the import price saw a perceptible setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by 20%. As a result, import price attained the peak level of $X per kg. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-10.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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