Slovakia: Jewelry Market 2024

Jewelry Market Size in Slovakia

The Slovak jewelry market surged to $X in 2021, with an increase of 27% against the previous year. Overall, consumption, however, recorded a deep contraction. Jewelry consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Jewelry Production in Slovakia

In value terms, jewelry production reached $X in 2021 estimated in export price. Over the period under review, production, however, showed a drastic downturn. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Jewelry Exports

Exports from Slovakia

In 2021, shipments abroad of jewelry increased by 78% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 108%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, jewelry exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), the Czech Republic (X tons) and Poland (X tons) were the main destinations of jewelry exports from Slovakia, with a combined 88% share of total exports. These countries were followed by Azerbaijan, Hungary, Austria, Italy and China, which together accounted for a further 7.1%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Azerbaijan (with a CAGR of +64.5%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Germany ($X) and Hungary ($X) appeared to be the largest markets for jewelry exported from Slovakia worldwide, with a combined 91% share of total exports. These countries were followed by Poland, Azerbaijan, Italy, Austria and China, which together accounted for a further 4.4%.

Azerbaijan, with a CAGR of +56.8%, saw the highest growth rate of the value of exports, among the main countries of destination 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, growing by 42% against the previous year. Over the period under review, the export price showed tangible growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 151% against the previous year. 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 somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hungary ($X per kg), while the average price for exports to Austria ($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 Hungary (+46.8%), while the prices for the other major destinations experienced mixed trend patterns.

Jewelry Imports

Imports into Slovakia

In 2021, overseas purchases of jewelry were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 131% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, jewelry imports surged to $X in 2021. Overall, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), France (X tons) and the Czech Republic (X tons) were the main suppliers of jewelry imports to Slovakia, with a combined 62% share of total imports. These countries were followed by Austria, Italy, China, Poland, the Netherlands, Turkey, Belgium, the UK, India and Thailand, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were in Belgium (with a CAGR of +83.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) constituted the largest supplier of jewelry to Slovakia, comprising 33% of total imports. The second position in the ranking was taken by Italy ($X), with a 16% share of total imports. It was followed by Turkey, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Czech Republic stood at +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+9.8% per year) and Turkey (+5.2% per year).

Import Prices by Country

In 2021, the average jewelry import price amounted to $X per kg, which is down by -28.2% against the previous year. In general, the import price saw a slight downturn. The growth pace was the most rapid in 2019 when the average import price increased by 335%. As a result, import price reached the peak level of $X per kg. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+24.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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