Southern Asia: Jewelry Market 2024

Jewelry Market Size in Southern Asia

In 2022, the South Asian jewelry market decreased by -4.1% to $X, falling for the second year in a row after three years of growth. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Jewelry Production in Southern Asia

In value terms, jewelry production shrank modestly to $X in 2022 estimated in export price. Overall, production recorded a slight downturn. The most prominent rate of growth was recorded in 2018 with an increase of 150%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Jewelry Exports

Exports in Southern Asia

In 2022, the amount of jewelry exported in Southern Asia soared to X tons, increasing by 57% compared with 2021. Overall, exports, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 82%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, jewelry exports soared to $X in 2022. Over the period under review, exports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 38%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, India (X tons) was the major exporter of jewelry in Southern Asia, creating 99% of total export.

India was also the fastest-growing in terms of the jewelry exports, with a CAGR of -1.1% from 2012 to 2022. India (+8.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest jewelry supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled -4.4%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per kg, falling by -25.8% against the previous year. Overall, the export price saw a noticeable descent. The pace of growth appeared the most rapid in 2015 an increase of 56%. The level of export peaked at $X per kg in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -3.4% per year.

Jewelry Imports

Imports in Southern Asia

In 2022, jewelry imports in Southern Asia skyrocketed to X tons, with an increase of 78% against the previous year's figure. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 146% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, jewelry imports skyrocketed to $X in 2022. Overall, imports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 247% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India was the major importing country with an import of around X tons, which recorded 63% of total imports. It was distantly followed by Pakistan (X tons), committing a 28% share of total imports. Sri Lanka (X tons), Afghanistan (X tons) and Bangladesh (X tons) took a little share of total imports.

Imports into India increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, Pakistan (+33.6%), Sri Lanka (+30.9%), Bangladesh (+26.9%) and Afghanistan (+17.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +33.6% from 2012-2022. While the share of Pakistan (+25 p.p.) and Sri Lanka (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of India (-31.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported jewelry in Southern Asia, comprising 81% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 11% share of total imports. It was followed by Afghanistan, with a 6.8% share.

In India, jewelry imports declined by an average annual rate of -15.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+95.3% per year) and Afghanistan (+29.2% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per kg, declining by -21.7% against the previous year. Over the period under review, the import price faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 41%. Over the period under review, import prices reached the peak figure at $X per kg in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bangladesh ($X per kg), while Pakistan ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+54.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :