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

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

The Spanish precious stone and pearl market expanded notably to $X in 2022, picking up by 13% 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). Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +89.6% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Spain

In 2022, shipments abroad of cultured pearls, precious or semi-precious stones was finally on the rise to reach X tons after two years of decline. Overall, exports posted a resilient increase. The growth pace was the most rapid in 2014 with an increase of 88% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, precious stone and pearl exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate prominent growth. The growth pace was the most rapid in 2021 with an increase of 115%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons) was the main destination for precious stone and pearl exports from Spain, with a 44% share of total exports. Moreover, precious stone and pearl exports to the United States exceeded the volume sent to the second major destination, Qatar (X tons), fourfold. The third position in this ranking was taken by Greece (X tons), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+30.0% per year) and Greece (+111.1% per year).

In value terms, Israel ($X) emerged as the key foreign market for cultured pearls, precious or semi-precious stones exports from Spain, comprising 21% of total exports. The second position in the ranking was held by Switzerland ($X), with an 11% share of total exports. It was followed by the United States, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Israel stood at +45.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+11.9% per year) and the United States (-1.2% per year).

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, increasing by 24% against the previous year. Overall, the export price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2021 an increase of 134% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Greece ($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 France (+22.2%), 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 Spain

Precious stone and pearl imports into Spain contracted slightly to X tons in 2022, approximately reflecting the previous year's figure. In general, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 46%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports surged to $X in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +115.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 79% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest precious stone and pearl supplier to Spain, accounting for a 47% share of total imports. Moreover, precious stone and pearl imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.4% per year) and Hong Kong SAR (+2.3% per year).

In value terms, India ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Spain, comprising 16% of total imports. The second position in the ranking was taken by China ($X), with a 2.8% share of total imports. It was followed by Brazil, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.9% per year) and Brazil (+16.2% 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 22% against the previous year. Over the period under review, the import price posted a temperate increase. The most prominent rate of growth was recorded in 2016 an increase of 66%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Madagascar ($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 (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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