Africa: Jewelry Market 2024

Jewelry Market Size in Africa

The African jewelry market surged to $X in 2022, picking up by X% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Jewelry Production in Africa

In value terms, jewelry production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Jewelry Exports

Exports in Africa

In 2022, the amount of jewelry exported in Africa fell sharply to X tons, waning by X% on the previous year. In general, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2016 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, jewelry exports soared to $X in 2022. Over the period under review, exports, however, showed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. Mauritius (X tons) took the second position in the ranking, followed by Morocco (X tons). All these countries together held approx. X% share of total exports. Tunisia (X tons), Nigeria (X tons), Egypt (X tons) and Kenya (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to jewelry exports from South Africa stood at X%. At the same time, Nigeria (X%), Kenya (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. Morocco experienced a relatively flat trend pattern. By contrast, Tunisia (X%) and Mauritius (X%) illustrated a downward trend over the same period. While the share of Morocco (X p.p.), Nigeria (X p.p.) and Kenya (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Africa (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest jewelry supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Morocco ($X), with a X% share of total exports. It was followed by Mauritius, with an X% share.

In South Africa, jewelry exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Morocco (X% per year) and Mauritius (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per kg, jumping by X% against the previous year. In general, the export price posted a resilient increase. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Morocco ($X per kg), while Kenya ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced more modest paces of growth.

Jewelry Imports

Imports in Africa

In 2022, approx. X tons of jewelry were imported in Africa; increasing by X% compared with the year before. Over the period under review, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, jewelry imports soared to $X in 2022. In general, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, South Africa (X tons) was the key importer of jewelry, comprising X% of total imports. Nigeria (X tons) ranks second in terms of the total imports with a X% share, followed by Libya (X%), Egypt (X%) and Sudan (X%). Kenya (X tons), Morocco (X tons), Zambia (X tons), Rwanda (X tons), Namibia (X tons), Senegal (X tons) and Ethiopia (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Sudan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Libya ($X), Sudan ($X) and Egypt ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Among the main importing countries, Sudan, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per kg, surging by X% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jewelry import price increased by X% against 2020 indices. The level of import peaked at $X per kg in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per kg), while Nigeria ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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