Portugal: Jewelry Market 2024

Jewelry Market Size in Portugal

In 2021, the Portuguese jewelry market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, showed a deep reduction. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Jewelry Production in Portugal

In value terms, jewelry production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, recorded a perceptible contraction. Jewelry production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Jewelry Exports

Exports from Portugal

Jewelry exports from Portugal dropped notably to X tons in 2021, waning by -19.3% compared with 2020. Overall, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 44% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then declined markedly in the following year.

In value terms, jewelry exports soared to $X in 2021. In general, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -0.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 51% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Angola (X tons), Switzerland (X tons) and Germany (X tons) were the main destinations of jewelry exports from Portugal, together comprising 57% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +44.9%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for jewelry exports from Portugal, comprising 37% of total exports. The second position in the ranking was taken by Spain ($X), with a 12% share of total exports. It was followed by the United States, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France amounted to +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-0.7% per year) and the United States (+25.8% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2021, jumping by 70% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per kg in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was France ($X per kg), while the average price for exports to Saudi Arabia ($X per kg) 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 (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Portugal

In 2021, purchases abroad of jewelry was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a mild setback. The most prominent rate of growth was recorded in 2018 when imports increased by 66%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, jewelry imports soared to $X in 2021. In general, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.3% against 2019 indices. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of jewelry to Portugal, with a 58% share of total imports. Moreover, jewelry imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+30.5% per year) and Italy (-17.6% per year).

In value terms, Spain ($X), France ($X) and Italy ($X) were the largest jewelry suppliers to Portugal, with a combined 72% share of total imports. These countries were followed by Germany, China, Indonesia and Denmark, which together accounted for a further 18%.

Indonesia, with a CAGR of +30.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average jewelry import price amounted to $X per kg, increasing by 9.1% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, jewelry import price increased by +16.6% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 125%. Over the period under review, average import prices hit record highs at $X per kg in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :