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

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

The Moroccan precious stone and pearl market soared to $X in 2022, rising by 198% against the previous year. In general, consumption, however, recorded a pronounced curtailment. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, precious stone and pearl production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 33%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Morocco

Precious stone and pearl exports from Morocco contracted sharply to X tons in 2022, dropping by -77.5% on the year before. Over the period under review, exports, however, posted a perceptible expansion. The most prominent rate of growth was recorded in 2016 with an increase of 312%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, precious stone and pearl exports surged to $X in 2022. Overall, exports, however, showed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 1,358% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Australia (X tons) was the main destination for precious stone and pearl exports from Morocco, with a 15% share of total exports. Moreover, precious stone and pearl exports to Australia exceeded the volume sent to the second major destination, Spain (X tons), fivefold. The third position in this ranking was held by Canada (X tons), with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume to Australia stood at +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+217.8% per year) and Canada (-24.7% per year).

In value terms, the largest markets for precious stone and pearl exported from Morocco were Australia ($X), France ($X) and Canada ($X), together comprising 38% of total exports. Spain, the United States, the Czech Republic, Brazil, Turkey and the UK lagged somewhat behind, together accounting for a further 12%.

Spain, with a CAGR of +138.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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, growing by 1,208% against the previous year. In general, the export price recorded significant growth. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Turkey ($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 the UK (+86.6%), 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 Morocco

Precious stone and pearl imports into Morocco dropped rapidly to X tons in 2022, declining by -98.8% against the year before. In general, imports faced a sharp curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 216%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, precious stone and pearl imports surged to $X in 2022. Overall, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by 151% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of precious stone and pearl to Morocco, with a 55% share of total imports. Moreover, precious stone and pearl imports from India exceeded the figures recorded by the second-largest supplier, China (X kg), fourfold. The third position in this ranking was taken by Thailand (X kg), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at -20.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-37.4% per year) and Thailand (-35.1% per year).

In value terms, Germany ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Morocco, comprising 33% of total imports. The second position in the ranking was held by Belgium ($X), with an 11% share of total imports. It was followed by India, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+30.0% per year) and India (+43.5% per year).

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, jumping by 13,116% against the previous year. Over the period under review, the import price posted a significant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Zambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+384.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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