Slovakia: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2024

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in Slovakia

In 2022, the Slovak precious stone and pearl market decreased by less than 0.1% to $X for the first time since 2016, thus ending a five-year rising trend. In general, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 1.2% against the previous year. Over the period under review, the market reached the peak level at $X in 2021, and then declined slightly in the following year.

Production of Cultured Pearls, Precious Or Semi-Precious Stones in Slovakia

In value terms, precious stone and pearl production dropped to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 0.6% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Slovakia

In 2022, overseas shipments of cultured pearls, precious or semi-precious stones decreased by -97% to X tons, falling for the second consecutive year after two years of growth. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2013 with an increase of 1,533% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, precious stone and pearl exports skyrocketed to $X in 2022. In general, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2013 when exports increased by 1,216%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X kg), Germany (X kg) and the Czech Republic (X kg) were the main destinations of precious stone and pearl exports from Slovakia, with a combined 22% share of total exports. Ireland, Poland, France, Denmark, Finland, Italy, Belgium, Iceland, Austria and Switzerland lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +46.5%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) emerged as the key foreign market for cultured pearls, precious or semi-precious stones exports from Slovakia, comprising 54% of total exports. The second position in the ranking was taken by the United States ($X), with a 6.6% share of total exports. It was followed by Ireland, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to Denmark amounted to +99.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-5.0% per year) and Ireland (+49.4% per year).

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, surging by 3,835% against the previous year. Over the period under review, the export price continues to indicate significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Iceland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+4,930.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Slovakia

In 2022, the amount of cultured pearls, precious or semi-precious stones imported into Slovakia rose markedly to X tons, picking up by 5.4% against the previous year's figure. Overall, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 89% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, precious stone and pearl imports declined remarkably to $X in 2022. In general, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), China (X tons) and South Africa (X tons) were the main suppliers of precious stone and pearl imports to Slovakia, with a combined 94% share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +2,527.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest precious stone and pearl suppliers to Slovakia were China ($X), India ($X) and South Africa ($X), with a combined 45% share of total imports.

In terms of the main suppliers, South Africa, with a CAGR of +135.7%, saw the highest rates of growth with regard to 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 2022, the average precious stone and pearl import price amounted to $X per ton, which is down by -30.1% against the previous year. In general, the import price saw a sharp shrinkage. The pace of growth was the most pronounced in 2021 when the average import price increased by 73%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :