Greece: Jewelry Market Overview 2021

Jewelry Market Size in Greece

In 2020, the Greek jewelry market decreased by -X% to $X, falling for the second consecutive year after two years of growth. In general, consumption saw a abrupt decline. The most prominent rate of growth was recorded in 2013 when the market value increased by X% year-to-year. Jewelry consumption peaked at $X in 2007; however, from 2008 to 2020, consumption stood at a somewhat lower figure.

Jewelry Production in Greece

In value terms, jewelry production reduced rapidly to $X in 2020 estimated in export prices. In general, production recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% y-o-y. Over the period under review, production reached the peak level at $X in 2007; however, from 2008 to 2020, production stood at a somewhat lower figure.

Jewelry Exports

Exports from Greece

In 2020, shipments abroad of jewelry decreased by -X% to X tonnes, falling for the third consecutive year after two years of growth. Over the period under review, exports showed a pronounced reduction. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Exports peaked at X tonnes in 2012; however, from 2013 to 2020, exports failed to regain the momentum.

In value terms, jewelry exports dropped dramatically to $X in 2020. In general, exports continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2011 when exports increased by X% against the previous year. Over the period under review, exports hit record highs at $X in 2019, and then reduced notably in the following year.

Exports by Country

Romania (X tonnes) was the main destination for jewelry exports from Greece, with a X% share of total exports. Moreover, jewelry exports to Romania exceeded the volume sent to the second major destination, Spain (X tonnes), twofold. The third position in this ranking was occupied by Cyprus (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Romania stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+X% per year) and Cyprus (-X% per year).

In value terms, Turkey ($X), the U.S. ($X) and Spain ($X) constituted the largest markets for jewelry exported from Greece worldwide, together comprising X% of total exports.

Turkey recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average jewelry export price stood at $X per kg in 2020, shrinking by -X% against the previous year. In general, the export price, however, posted modest growth. The growth pace was the most rapid in 2009 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the peak figure at $X per kg in 2019, and then fell significantly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Turkey ($X per kg), while the average price for exports to Romania ($X per kg) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus, while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Greece

In 2020, the amount of jewelry imported into Greece reduced rapidly to X tonnes, which is down by -X% on 2019. Over the period under review, imports faced a deep reduction. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tonnes in 2009; however, from 2010 to 2020, imports failed to regain the momentum.

In value terms, jewelry imports contracted dramatically to $X in 2020. In general, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2013 when imports increased by X% year-to-year. Imports peaked at $X in 2008; however, from 2009 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tonnes), France (X tonnes) and Germany (X tonnes) were the main suppliers of jewelry imports to Greece, together accounting for X% of total imports. These countries were followed by China, the UK, Thailand and Cyprus, which together accounted for a further X 2007 to 2020, the biggest increases were in Cyprus, while purchases for the other leaders experienced a decline.

In value terms, the largest jewelry suppliers to Greece were France ($X), Italy ($X) and Germany ($X), with a combined X% share of total imports.

Among the main suppliers, France 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

In 2020, the average jewelry import price amounted to $X per tonne, falling by -X% against the previous year. In general, the import price, however, showed perceptible growth. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% y-o-y. Over the period under review, average import prices reached the peak figure at $X per tonne in 2018; however, from 2019 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany ($X per tonne), while the price for the UK ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for jewelry in the world?

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The countries with the highest volumes of jewelry consumption in 2020 were China (4.5K tonnes), the UK (4K tonnes) and the United Arab Emirates (2.8K tonnes), together comprising 35% of global consumption.

What are the largest producers of jewelry in the world?

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The countries with the highest volumes of jewelry production in 2020 were China (5K tonnes), India (2.5K tonnes) and Italy (1.6K tonnes), together accounting for 36% of global production. These countries were followed by Thailand, Indonesia, Pakistan, Japan, Bangladesh, Mexico, Brazil, Turkey, the U.S. and Ethiopia, which together accounted for a further 26%.

What are the leading suppliers of jewelry to Greece?

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In value terms, the largest jewelry suppliers to Greece were France ($11M), Italy ($11M) and Germany ($5.3M), together accounting for 67% of total imports.

What are the leading importers of jewelry from Greece?

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In value terms, Turkey ($7.2M), the U.S. ($6M) and Spain ($3.1M) were the largest markets for jewelry exported from Greece worldwide, with a combined 52% share of total exports.

What is the average export price for jewelry in Greece?

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In 2020, the average jewelry export price amounted to $1,461 per kg, reducing by -32% against the previous year.

What is the average import price for jewelry in Greece?

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In 2020, the average jewelry import price amounted to $1,140,745 per tonne, with a decrease of -14.7% against the previous year.