Report Update Nov 1, 2024

Singapore - Jewelry - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Singapore: Jewelry Market 2024

Jewelry Market Size in Singapore

The Singaporean jewelry market surged to $X in 2021, increasing by 121% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. Jewelry consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Jewelry Exports

Exports from Singapore

In 2021, shipments abroad of jewelry increased by 50% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2014 with an increase of 94%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, jewelry exports skyrocketed to $X in 2021. In general, exports, however, showed a mild reduction. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), the United Arab Emirates (X tons) and Australia (X tons) were the main destinations of jewelry exports from Singapore, with a combined 45% share of total exports. These countries were followed by Qatar, Malaysia, Hong Kong SAR, Switzerland, Thailand and Bangladesh, which together accounted for a further 39%.

From 2012 to 2021, the biggest increases were in Qatar (with a CAGR of +99.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for jewelry exported from Singapore were the United States ($X), the United Arab Emirates ($X) and Qatar ($X), with a combined 52% share of total exports.

In terms of the main countries of destination, Qatar, with a CAGR of +104.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average jewelry export price amounted to $X per kg, picking up by 9.2% against the previous year. Overall, the export price continues to indicate moderate growth. The pace of growth appeared the most rapid in 2013 when the average export price increased by 60%. As a result, the export price reached the peak level of $X per kg. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United Arab Emirates ($X per kg), while the average price for exports to Malaysia ($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 Australia (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Singapore

After four years of decline, supplies from abroad of jewelry increased by 78% to X tons in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, jewelry imports surged to $X in 2021. In general, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 127%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

France (X tons), India (X tons) and Malaysia (X tons) were the main suppliers of jewelry imports to Singapore, with a combined 49% share of total imports.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +12.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Malaysia ($X) and France ($X) appeared to be the largest jewelry suppliers to Singapore, with a combined 60% share of total imports.

France, with a CAGR of +27.3%, recorded the highest growth rate of 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

The average jewelry import price stood at $X per kg in 2021, dropping by -17.8% against the previous year. Over the period under review, the import price, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 129% against the previous year. Over the period under review, average import prices reached the maximum at $X per kg in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per kg), while the price for Thailand ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for jewelry in the world?

The countries with the highest volumes of in 2021 were the United States, China and India, together comprising 29% of global consumption.

What are the largest producers of jewelry in the world?

Thailand remains the largest jewelry producing country worldwide, accounting for 47% of total volume. Moreover, jewelry production in Thailand exceeded the figures recorded by the second-largest producer, China, fourfold. India ranked third in terms of total production with a 5.9% share.

What are the leading suppliers of jewelry to Singapore?

In value terms, the largest jewelry suppliers to Singapore were France, Malaysia and India, together comprising 56% of total imports. These countries were followed by the United Arab Emirates, Hong Kong SAR, the United States, Switzerland, China, Indonesia, Italy, Thailand, Japan and Vietnam, which together accounted for a further 41%.

What are the leading importers of jewelry from Singapore?

In value terms, Hong Kong SAR, the United Arab Emirates and Switzerland constituted the largest markets for jewelry exported from Singapore worldwide, with a combined 37% share of total exports. These countries were followed by Bangladesh, Australia, the United States, Qatar, Malaysia, Thailand, Japan, Indonesia and Vietnam, which together accounted for a further 48%.

What is the average export price for jewelry in Singapore?

The average jewelry export price stood at $27,802 per kg in 2021, which is down by -19.8% against the previous year.

What is the average import price for jewelry in Singapore?

The average jewelry import price stood at $23,137 per kg in 2021, surging by 13% against the previous year.

This report provides an in-depth analysis of the jewelry market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32121330 - Articles of jewellery and parts thereof of precious metal (including plated, clad)
Prodcom 32121351 - Articles of goldsmiths
Prodcom 32121353 - Articles of goldsmiths
Prodcom 32121355 - Articles of goldsmiths

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023