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

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

The Tanzanian precious stone and pearl market shrank rapidly to $X in 2022, waning by -41.3% against the previous year. In general, consumption showed a abrupt decline. Precious stone and pearl consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

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

In value terms, precious stone and pearl production contracted to $X in 2022 estimated in export price. Overall, the total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 26%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Tanzania

In 2022, the amount of cultured pearls, precious or semi-precious stones exported from Tanzania rose sharply to X tons, with an increase of 12% on 2021 figures. In general, exports posted significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 1,876%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, precious stone and pearl exports reduced to $X in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 495% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for precious stone and pearl exports from Tanzania, with a 97% share of total exports. It was followed by Hong Kong SAR (X tons), with a 0.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +127.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-6.2% per year) and India (-32.6% per year).

In value terms, China ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Tanzania, comprising 18% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 1.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +54.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+2.3% per year) and India (+0.2% per year).

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, shrinking by -10.8% against the previous year. In general, the export price saw a perceptible descent. The growth pace was the most rapid in 2018 when the average export price increased by 94%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 India (+48.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Tanzania

In 2022, the amount of cultured pearls, precious or semi-precious stones imported into Tanzania contracted dramatically to X tons, reducing by -34.5% against the previous year's figure. In general, imports faced a dramatic descent. The growth pace was the most rapid in 2015 when imports increased by 251%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, precious stone and pearl imports shrank to $X in 2022. Overall, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2013 when imports increased by 46% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Mozambique (X tons) was the main precious stone and pearl supplier to Tanzania, with a 94% share of total imports. Moreover, precious stone and pearl imports from Mozambique exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mozambique stood at -25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (0.0% per year) and China (-54.8% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Tanzania, comprising 1.6% of total imports. The second position in the ranking was held by China ($X), with a 0.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.2% per year) and Mozambique (-15.5% per year).

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, jumping by 41% against the previous year. Overall, the import price recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 981%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 China ($X per ton), while the price for Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+132.9%).

Source: IndexBox Platform