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

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

The Uruguayan precious stone and pearl market amounted to $X in 2022, increasing by 11% against the previous year. Overall, consumption, however, saw a drastic downturn. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

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

In value terms, precious stone and pearl production dropped modestly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 33% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Uruguay

Precious stone and pearl exports from Uruguay shrank to X tons in 2022, waning by -1.7% on the previous year. Over the period under review, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 64% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, precious stone and pearl exports dropped modestly to $X in 2022. In general, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 48%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), the United States (X tons) and Brazil (X tons) were the main destinations of precious stone and pearl exports from Uruguay, together accounting for 87% of total exports. The Czech Republic, Germany, France and Taiwan (Chinese) lagged somewhat behind, together comprising a further 9.5%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +46.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Uruguay, comprising 58% of total exports. The second position in the ranking was taken by the United States ($X), with a 27% share of total exports. It was followed by Taiwan (Chinese), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.1% per year) and Taiwan (Chinese) (+24.5% per year).

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 76% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Brazil ($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 Russia (+321.7%), 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 Uruguay

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were imported into Uruguay; which is down by -39.1% compared with the previous year. Overall, imports saw a deep downturn. The growth pace was the most rapid in 2013 when imports increased by 637%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, precious stone and pearl imports fell to $X in 2022. Over the period under review, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2013 when imports increased by 73%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest precious stone and pearl supplier to Uruguay, with a 63% 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. The third position in this ranking was taken by Israel (X tons), with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil amounted to -12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+142.9% per year) and Israel (+7.5% per year).

In value terms, China ($X), Israel ($X) and Brazil ($X) appeared to be the largest precious stone and pearl suppliers to Uruguay, with a combined 63% share of total imports.

Among the main suppliers, China, with a CAGR of +12.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average precious stone and pearl import price stood at $X per ton in 2022, surging by 43% against the previous year. Over the period under review, the import price posted a tangible increase. The growth pace was the most rapid in 2014 an increase of 499%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood 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 Israel ($X per ton), while the price for Brazil ($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 (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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