Mexico: Imitation Jewellery Market 2024

Imitation Jewellery Market Size in Mexico

In 2021, the Mexican imitation jewellery market was finally on the rise to reach $X after five years of decline. In general, consumption, however, saw a abrupt decrease. Imitation jewellery consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Imitation Jewellery Production in Mexico

In value terms, imitation jewellery production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 1.5% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Imitation Jewellery Exports

Exports from Mexico

In 2021, overseas shipments of imitation jewelry increased by 47% to X tons, rising for the second year in a row after six years of decline. Over the period under review, exports, however, recorded a abrupt slump. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, imitation jewellery exports soared to $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for imitation jewellery exports from Mexico, accounting for a 80% share of total exports. Moreover, imitation jewellery exports to the United States exceeded the volume sent to the second major destination, Panama (X tons), more than tenfold. The third position in this ranking was taken by Guatemala (X tons), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+30.0% per year) and Guatemala (-13.1% per year).

In value terms, the United States ($X) remains the key foreign market for imitation jewellery exports from Mexico, comprising 94% of total exports. The second position in the ranking was held by El Salvador ($X), with a 1.4% share of total exports. It was followed by Guatemala, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+1.2% per year) and Guatemala (-18.9% per year).

Export Prices by Country

The average imitation jewellery export price stood at $X per ton in 2021, waning by -16.8% against the previous year. Over the period under review, the export price, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 70% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imitation Jewellery Imports

Imports into Mexico

In 2021, overseas purchases of imitation jewelry were finally on the rise to reach X tons after eight years of decline. In general, imports, however, showed a abrupt decrease. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imitation jewellery imports surged to $X in 2021. Over the period under review, imports, however, recorded a perceptible decrease. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest imitation jewellery supplier to Mexico, accounting for a 85% share of total imports. Moreover, imitation jewellery imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.3% per year) and Italy (+0.0% per year).

In value terms, China ($X) constituted the largest supplier of imitation jewellery to Mexico, comprising 71% of total imports. The second position in the ranking was held by the United States ($X), with a 7.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.3% per year) and Italy (+1.4% per year).

Import Prices by Country

In 2021, the average imitation jewellery import price amounted to $X per ton, increasing by 1.6% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imitation jewellery import price increased by +79.9% against 2012 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 14%. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform