Latvia: Jewellery Market 2020

Jewellery Market Size in Latvia

The revenue of the jewellery market in Latvia amounted to $X in 2018, declining by -X% against the previous year. Overall, jewellery consumption continues to indicate a mild decline. The most prominent rate of growth was recorded in 2008 when the market value increased by X% against the previous year. In that year, the jewellery market reached its peak level of $X. From 2009 to 2018, the growth of the jewellery market remained at a lower figure.

Jewellery Production in Latvia

In value terms, jewellery production stood at $X in 2018 estimated in export prices. In general, jewellery production continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, jewellery production attained its maximum level in 2018 and is expected to retain its growth in the immediate term.

Jewellery Exports

Exports from Latvia

In 2018, approx. X tons of jewellery were exported from Latvia; waning by -X% against the previous year. In general, jewellery exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% year-to-year. Latvia exports peaked at X tons in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.

In value terms, jewellery exports amounted to $X in 2018. In general, jewellery exports, however, continue to indicate an outstanding increase. The pace of growth was the most pronounced in 2011 when exports increased by X% against the previous year. Over the period under review, jewellery exports reached their peak figure in 2018 and are expected to retain its growth in the immediate term.

Exports by Country

Japan was the major exporter of jewellery in the world, with the volume of exports reaching X tons, which was approx. 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 approx. 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) held a relatively small share of total exports.

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, the largest jewellery markets from Latvia were India ($X), China ($X) and the U.S. ($X), with a combined X% share of total exports. These countries were followed by Italy, Switzerland, the UK, Thailand, Japan, Germany, Spain and Latvia, which together accounted for a further X terms of the main exporting countries, Latvia experienced the highest growth rate of exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the jewellery export price in Latvia amounted to $X per ton, surging by X% against the previous year. In general, the jewellery export price continues to indicate strong growth. The pace of growth appeared the most rapid in 2008 when the export price increased by X% year-to-year. Latvia export price peaked in 2018 and is likely to continue its growth in the near future.

Prices varied noticeably by the country of origin; 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 Latvia

In 2018, the amount of jewellery imported into Latvia totaled X tons, going down by -X% against the previous year. In general, jewellery imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. In that year, jewellery imports reached their peak of X tons. From 2009 to 2018, the growth of jewellery imports remained at a somewhat lower figure.

In value terms, jewellery imports totaled $X in 2018. In general, jewellery imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X% year-to-year. Latvia imports peaked at $X in 2016; however, from 2017 to 2018, imports failed to regain their momentum.

Imports by Country

Japan was the largest importer of jewellery in the world, with the volume of imports reaching X tons, which was near X% of total imports in 2018. The UK (X tons) ranks second in terms of the total imports with a X% share, 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. From 2007 to 2018, the share of Japan, the UK, the United Arab Emirates, Switzerland, Canada, Sudan, Singapore and China, Hong Kong SAR increased by +X%, +X%, +X%, +X%, +X%, +X%, +X% and +X% percentage points, while the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest jewellery importing markets into Latvia were China, Hong Kong SAR ($X), the United Arab Emirates ($X) and Switzerland ($X), together comprising X% of total imports.

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

Import Prices by Country

The jewellery import price in Latvia stood at $X per ton in 2018, surging by X% against the previous year. Over the period under review, the jewellery import price continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2009 when the import price increased by X% y-o-y. Over the period under review, the import prices for jewellery reached their maximum in 2018 and is expected to retain its growth in the near future.

Prices varied noticeably by the country of destination; 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