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

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

In 2022, the Ukrainian precious stone and pearl market increased by 188% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, showed a mild decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

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

In value terms, precious stone and pearl production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 0.8%. Precious stone and pearl production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Ukraine

In 2022, shipments abroad of cultured pearls, precious or semi-precious stones decreased by -99.9% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a dramatic contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 270% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports shrank remarkably to $X in 2022. Overall, exports showed a sharp shrinkage. The growth pace was the most rapid in 2015 with an increase of 337%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for precious stone and pearl exports from Ukraine, accounting for a 96% 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 kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (0.0% per year) and Thailand (-54.4% per year).

In value terms, the United States ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Ukraine, comprising 60% of total exports. The second position in the ranking was held by Thailand ($X), with a 7.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+39.5% per year) and Qatar (0.0% per year).

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, increasing by 17,802% against the previous year. Overall, the export price posted a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Thailand ($X per ton), while the average price for exports to Qatar ($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 Thailand (+206.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Ukraine

Precious stone and pearl imports into Ukraine declined notably to X tons in 2022, shrinking by -91.7% against the previous year's figure. Overall, imports faced a precipitous contraction. The most prominent rate of growth was recorded in 2016 with an increase of 126% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports dropped to $X in 2022. In general, imports saw a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by 153% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of precious stone and pearl to Ukraine, accounting for a 69% share of total imports. Moreover, precious stone and pearl imports from Turkey exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fivefold. Thailand (X kg) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+19.1% per year) and Thailand (-46.0% per year).

In value terms, India ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Ukraine, comprising 79% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Hong Kong SAR, with a 0.9% share.

From 2012 to 2022, the average annual growth rate of value from India stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+24.2% per year) and Hong Kong SAR (-28.5% per year).

Import Prices by Country

The average precious stone and pearl import price stood at $X per ton in 2022, jumping by 932% against the previous year. Over the period under review, the import price saw a significant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 India ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+103.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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