Indonesia: Imitation Jewellery Market 2023

Imitation Jewellery Market Size in Indonesia

In 2021, the Indonesian imitation jewellery market decreased by -3.3% to $X, falling for the second consecutive year after three years of growth. Overall, consumption showed a relatively flat trend pattern. Imitation jewellery consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Imitation Jewellery Exports

Exports from Indonesia

After two years of decline, overseas shipments of imitation jewelry increased by 10% to X tons in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 26% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, imitation jewellery exports rose significantly to $X in 2021. In general, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -18.4% against 2018 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 38%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons), the United States (X tons) and Singapore (X tons) were the main destinations of imitation jewellery exports from Indonesia, with a combined 71% share of total exports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +68.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for imitation jewellery exports from Indonesia, comprising 53% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by Italy, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value to Singapore totaled +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+4.5% per year) and Italy (+15.3% per year).

Export Prices by Country

The average imitation jewellery export price stood at $X per ton in 2021, approximately mirroring the previous year. Over the last nine-year period, it increased at an average annual rate of +4.9%. The pace of growth was the most pronounced in 2020 an increase of 16% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imitation Jewellery Imports

Imports into Indonesia

In 2021, the amount of imitation jewelry imported into Indonesia expanded to X tons, with an increase of 4.8% compared with the previous year's figure. Overall, imports, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2015 with an increase of 69% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, imitation jewellery imports dropped modestly to $X in 2021. Over the period under review, imports recorded a mild expansion. The most prominent rate of growth was recorded in 2015 with an increase of 53%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main imitation jewellery supplier to Indonesia, accounting for a 96% share of total imports. It was followed by Hong Kong SAR (X tons), with a 0.8% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China stood at -1.8%.

In value terms, China ($X) constituted the largest supplier of imitation jewellery to Indonesia, comprising 80% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 1.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +5.6%.

Import Prices by Country

In 2021, the average imitation jewellery import price amounted to $X per ton, dropping by -8.5% against the previous year. Over the last nine years, it increased at an average annual rate of +4.6%. The pace of growth was the most pronounced in 2013 when the average import price increased by 38%. The import price peaked at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.6%).

Source: IndexBox Market Intelligence Platform

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