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

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

The Luxembourg precious stone and pearl market soared to $X in 2022, jumping by 32% against the previous year. Over the period under review, consumption posted a buoyant increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

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

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 +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 3.4%. Precious stone and pearl production peaked at $X in 2021, and then dropped in the following year.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Luxembourg

In 2022, exports of cultured pearls, precious or semi-precious stones from Luxembourg shrank rapidly to X tons, declining by -99% against 2021 figures. Over the period under review, exports saw a sharp descent. The pace of growth appeared the most rapid in 2021 with an increase of 50,467,900% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, precious stone and pearl exports fell to $X in 2022. In general, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2021 with an increase of 31,796,000%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for precious stone and pearl exports from Luxembourg, with a 99% share of total exports. It was followed by the United States (X kg), with a 0.5% share of total exports. France (X kg) ranked third in terms of total exports with a 0.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR stood at -96.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-68.9% per year) and France (-63.0% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and Belgium ($X) constituted the largest markets for precious stone and pearl exported from Luxembourg worldwide, together accounting for 96% of total exports.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +665.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, picking up by 8,542% against the previous year. Overall, the export price enjoyed significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Hong Kong SAR ($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 Hong Kong SAR (+18,896.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Luxembourg

In 2022, the amount of cultured pearls, precious or semi-precious stones imported into Luxembourg soared to X tons, jumping by 53% on the year before. Overall, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 455%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, precious stone and pearl imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a perceptible setback. The growth pace was the most rapid in 2018 with an increase of 107%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), France (X tons) and the United States (X tons) were the main suppliers of precious stone and pearl imports to Luxembourg, together accounting for 99% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +120.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Luxembourg, comprising 47% of total imports. The second position in the ranking was taken by France ($X), with a 10% share of total imports. It was followed by the United States, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+2.7% per year) and the United States (+11.5% per year).

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, which is down by -16% against the previous year. Over the period under review, the import price showed a deep slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 185% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 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 Thailand ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+206.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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