SADC: Jewelry Market 2024

Jewelry Market Size in SADC

The SADC jewelry market dropped to $X in 2021, waning by -5.8% against the previous year. In general, consumption, however, recorded a noticeable decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Jewelry Production in SADC

In value terms, jewelry production contracted to $X in 2021 estimated in export price. In general, production recorded a noticeable decrease. The pace of growth was the most pronounced in 2020 with an increase of 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Jewelry Exports

Exports in SADC

In 2021, after three years of decline, there was significant growth in shipments abroad of jewelry, when their volume increased by 41% to X tons. In general, exports, however, showed a perceptible curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 59%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, jewelry exports surged to $X in 2021. Over the period under review, exports enjoyed strong growth. The pace of growth was the most pronounced in 2018 with an increase of 54% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Africa prevails in exports structure, accounting for X tons, which was near 84% of total exports in 2021. Zimbabwe (X tons) took the second position in the ranking, followed by Mauritius (X tons). All these countries together took approx. 11% share of total exports.

Exports from South Africa decreased at an average annual rate of -4.7% from 2012 to 2021. At the same time, Zimbabwe (+1.9%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in SADC, with a CAGR of +1.9% from 2012-2021. By contrast, Mauritius (-9.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Zimbabwe increased by +2.4 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest jewelry supplier in SADC, comprising 91% of total exports. The second position in the ranking was taken by Mauritius ($X), with a 5.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa stood at +17.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Mauritius (-16.4% per year) and Zimbabwe (+10.7% per year).

Export Prices by Country

The export price in SADC stood at $X per kg in 2021, surging by 3.6% against the previous year. Over the period under review, the export price saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when the export price increased by 111% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Africa ($X per kg), while Zimbabwe ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+23.5%), while the other leaders experienced mixed trends in the export price figures.

Jewelry Imports

Imports in SADC

In 2021, overseas purchases of jewelry increased by 53% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a pronounced reduction. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, jewelry imports skyrocketed to $X in 2021. Overall, imports, however, saw a abrupt shrinkage. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

South Africa was the major importing country with an import of around X tons, which accounted for 71% of total imports. It was distantly followed by Botswana (X tons), generating a 13% share of total imports. Democratic Republic of the Congo (X tons), Angola (X tons), Mauritius (X tons) and Namibia (X tons) held a little share of total imports.

Imports into South Africa increased at an average annual rate of +3.7% from 2012 to 2021. At the same time, Democratic Republic of the Congo (+55.8%) displayed positive paces of growth. Moreover, Democratic Republic of the Congo emerged as the fastest-growing importer imported in SADC, with a CAGR of +55.8% from 2012-2021. By contrast, Botswana (-7.9%), Mauritius (-9.5%), Namibia (-18.1%) and Angola (-18.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Africa and Democratic Republic of the Congo increased by +34 and +3.8 percentage points, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported jewelry in SADC, comprising 47% of total imports. The second position in the ranking was held by Mauritius ($X), with a 19% share of total imports. It was followed by Democratic Republic of the Congo, with a 7% share.

In South Africa, jewelry imports decreased by an average annual rate of -8.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Mauritius (-11.6% per year) and Democratic Republic of the Congo (+17.4% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, with a decrease of -12.3% against the previous year. Over the period under review, the import price showed a noticeable decrease. The pace of growth was the most pronounced in 2016 when the import price increased by 25% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+9.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform