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

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

The South African precious stone and pearl market surged to $X in 2022, picking up by 97% against the previous year. Overall, consumption enjoyed tangible growth. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Cultured Pearls, Precious Or Semi-Precious Stones in South Africa

In value terms, precious stone and pearl production amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by 4,431,914,283% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from South Africa

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were exported from South Africa; declining by -21.3% against the year before. In general, total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -28.5% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 43%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports soared to $X in 2022. Over the period under review, exports, however, enjoyed a slight increase. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), the UK (X tons) and the Netherlands (X tons) were the main destinations of precious stone and pearl exports from South Africa, with a combined 67% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +39.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Hong Kong SAR ($X) and Switzerland ($X) were the largest markets for precious stone and pearl exported from South Africa worldwide, together comprising 56% of total exports. Australia, the UK, Germany, the Netherlands, the Czech Republic, Canada, France, China and Japan lagged somewhat behind, together accounting for a further 0.5%.

Among the main countries of destination, Australia, with a CAGR of +38.4%, recorded the highest rates of growth with regard to 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 2022, the average precious stone and pearl export price amounted to $X per ton, rising by 143% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Hong Kong SAR ($X per ton), while the average price for exports to China ($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 Hong Kong SAR (+28.3%), 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 South Africa

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were imported into South Africa; waning by -7.2% against the previous year. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 447% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports skyrocketed to $X in 2022. Over the period under review, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 81% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and the United States (X tons) were the main suppliers of precious stone and pearl imports to South Africa, with a combined 84% share of total imports. Brazil, Uruguay, Madagascar and Hong Kong SAR lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uruguay (with a CAGR of +441.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to South Africa, comprising 51% of total imports. The second position in the ranking was held by the United States ($X), with an 8.2% share of total imports. It was followed by Hong Kong SAR, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.6% per year) and Hong Kong SAR (-13.4% per year).

Import Prices by Country

The average precious stone and pearl import price stood at $X per ton in 2022, with an increase of 56% against the previous year. In general, the import price, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2017 an increase of 382% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat 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 Hong Kong SAR ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (+37.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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