Northern America: Jewelry Market 2024

Jewelry Market Size in Northern America

The North American jewelry market reduced remarkably to $X in 2022, dropping by -18.8% against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +26.1% against 2020 indices. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Jewelry Production in Northern America

In value terms, jewelry production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight increase. The most prominent rate of growth was recorded in 2017 with an increase of 14%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Jewelry Exports

Exports in Northern America

In 2022, approx. X tons of jewelry were exported in Northern America; increasing by 24% compared with the previous year's figure. Overall, exports showed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 54%. The volume of export peaked at X tons in 2017; afterwards, it flattened through to 2022.

In value terms, jewelry exports skyrocketed to $X in 2022. Total exports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 38%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United States prevails in exports structure, recording X tons, which was near 98% of total exports in 2022. Canada (X tons) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the jewelry exports, with a CAGR of +8.4% from 2012 to 2022. Canada (-2.9%) illustrated a downward trend over the same period. While the share of the United States (+3.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Canada (-3.7 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest jewelry supplier in Northern America, comprising 97% of total exports. The second position in the ranking was taken by Canada ($X), with a 2.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +1.5%.

Export Prices by Country

The export price in Northern America stood at $X per kg in 2022, with an increase of 5.8% against the previous year. Over the period under review, the export price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the export price increased by 76%. As a result, the export price reached the peak level of $X per kg. From 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per kg), while the United States totaled $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+5.5%).

Jewelry Imports

Imports in Northern America

In 2022, approx. X tons of jewelry were imported in Northern America; waning by -18.5% against 2021. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.0% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 59% against the previous year. As a result, imports attained the peak of X tons, and then declined sharply in the following year.

In value terms, jewelry imports declined to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 80%. As a result, imports reached the peak of $X, and then reduced modestly in the following year.

Imports by Country

In 2022, the United States (X tons) was the largest importer of jewelry, generating 89% of total imports. It was distantly followed by Canada (X tons), making up an 11% share of total imports.

The United States was also the fastest-growing in terms of the jewelry imports, with a CAGR of +4.8% from 2012 to 2022. At the same time, Canada (+3.7%) displayed positive paces of growth. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported jewelry in Northern America, comprising 90% of total imports. The second position in the ranking was held by Canada ($X), with a 9.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +6.5%.

Import Prices by Country

The import price in Northern America stood at $X per kg in 2022, increasing by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. Over the period under review, import prices hit record highs at $X per kg in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per kg), while Canada amounted to $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.6%).

Source: IndexBox Platform

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