MERCOSUR: Jewelry Market 2024

Jewelry Market Size in MERCOSUR

After four years of growth, the MERCOSUR jewelry market decreased by -1.6% to $X in 2021. The total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +61.2% against 2016 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank in the following year.

Jewelry Production in MERCOSUR

In value terms, jewelry production fell slightly to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Jewelry Exports

Exports in MERCOSUR

In 2021, exports of jewelry in MERCOSUR surged to X tons, jumping by 67% compared with the previous year. Over the period under review, exports, however, continue to indicate a deep reduction. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, jewelry exports skyrocketed to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons) and Brazil (X tons) represented roughly 75% of total exports in 2021. It was distantly followed by Colombia (X tons), comprising a 19% share of total exports. Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ecuador (with a CAGR of +26.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Peru ($X) remains the largest jewelry supplier in MERCOSUR, comprising 74% of total exports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total exports. It was followed by Colombia, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value in Peru totaled +8.9%. In the other countries, the average annual rates were as follows: Brazil (-10.6% per year) and Colombia (+11.9% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per kg in 2021, which is down by -10% against the previous year. Over the period under review, the export price, however, showed prominent growth. The pace of growth appeared the most rapid in 2017 an increase of 45% against the previous year. As a result, the export price reached the peak level of $X per kg. From 2018 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+10.5%), while the other leaders experienced mixed trends in the export price figures.

Jewelry Imports

Imports in MERCOSUR

In 2021, the amount of jewelry imported in MERCOSUR soared to X tons, picking up by 148% compared with 2020. In general, imports enjoyed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, jewelry imports surged to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Chile prevails in imports structure, reaching X tons, which was approx. 84% of total imports in 2021. It was distantly followed by Brazil (X tons), committing a 7% share of total imports. The following importers - Ecuador (X tons) and Colombia (X tons) - each accounted for a 6.2% share of total imports.

Chile was also the fastest-growing in terms of the jewelry imports, with a CAGR of +32.4% from 2012 to 2021. At the same time, Ecuador (+13.6%) displayed positive paces of growth. Brazil experienced a relatively flat trend pattern. By contrast, Colombia (-8.6%) illustrated a downward trend over the same period. Chile (+58 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Colombia saw its share reduced by -18.9% and -21.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported jewelry in MERCOSUR, comprising 52% of total imports. The second position in the ranking was held by Brazil ($X), with a 20% share of total imports. It was followed by Colombia, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Chile stood at +24.0%. In the other countries, the average annual rates were as follows: Brazil (+3.2% per year) and Colombia (-3.7% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, falling by -19.7% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of 3.8%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+5.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform