Scandinavia: Jewelry Market 2024

Jewelry Market Size in Scandinavia

The Scandinavia jewelry market surged to $X in 2021, growing by 112% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Jewelry Production in Scandinavia

In value terms, jewelry production stood at $X in 2021 estimated in export price. In general, production saw a deep setback. The pace of growth was the most pronounced in 2014 with an increase of 57%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Jewelry Exports

Exports in Scandinavia

After four years of growth, shipments abroad of jewelry decreased by -41.4% to X tons in 2021. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of 92% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, jewelry exports soared to $X in 2021. Overall, exports saw a noticeable descent. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Denmark (X tons) represented the main exporter of jewelry, making up 50% of total exports. Sweden (X tons) ranks second in terms of the total exports with a 27% share, followed by Norway (21%). Finland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Sweden (with a CAGR of +8.9%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Denmark ($X) remains the largest jewelry supplier in Scandinavia, comprising 62% of total exports. The second position in the ranking was held by Sweden ($X), with a 26% share of total exports. It was followed by Norway, with an 8.8% share.

In Denmark, jewelry exports shrank by an average annual rate of -3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sweden (+8.8% per year) and Norway (-4.1% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per kg, jumping by 107% against the previous year. In general, the export price saw a significant expansion. The pace of growth appeared the most rapid in 2013 an increase of 430%. The level of export peaked at $X per kg in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Finland ($X per kg), while Norway ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+61.7%), while the other leaders experienced mixed trends in the export price figures.

Jewelry Imports

Imports in Scandinavia

For the fourth year in a row, Scandinavia recorded growth in purchases abroad of jewelry, which increased by 59% to X tons in 2021. Over the period under review, imports, however, faced a abrupt contraction. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, jewelry imports surged to $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.6% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden represented the key importing country with an import of about X tons, which resulted at 60% of total imports. Norway (X tons) held the second position in the ranking, distantly followed by Denmark (X tons). All these countries together held near 36% share of total imports. The following importers - Finland (X tons) and Iceland (X tons) - each amounted to a 4.1% share of total imports.

Sweden was also the fastest-growing in terms of the jewelry imports, with a CAGR of +17.4% from 2012 to 2021. At the same time, Norway (+6.7%) and Iceland (+6.1%) displayed positive paces of growth. By contrast, Denmark (-2.0%) and Finland (-44.0%) illustrated a downward trend over the same period. Sweden (+57 p.p.), Norway (+21 p.p.), Denmark (+8.7 p.p.) and Iceland (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Finland saw its share reduced by -88.5% from 2012 to 2021, respectively.

In value terms, the largest jewelry importing markets in Scandinavia were Denmark ($X), Sweden ($X) and Norway ($X), with a combined 94% share of total imports. Finland and Iceland lagged somewhat behind, together comprising a further 6.1%.

Among the main importing countries, Iceland, with a CAGR of +6.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, shrinking by -9.3% against the previous year. In general, the import price, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2013 an increase of 703% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Denmark ($X per ton), while Iceland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+72.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform