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

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

In 2022, the Malaysian precious stone and pearl market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption posted notable growth. Precious stone and pearl consumption peaked at $X in 2021, and then dropped modestly in the following year.

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

In value terms, precious stone and pearl production amounted to $X in 2022 estimated in export price. Overall, production recorded a perceptible slump. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Malaysia

In 2022, the amount of cultured pearls, precious or semi-precious stones exported from Malaysia shrank dramatically to X tons, which is down by X% compared with 2021 figures. Overall, exports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports declined slightly to $X in 2022. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X tons) was the main destination for precious stone and pearl exports from Malaysia, with a X% share of total exports. Moreover, precious stone and pearl exports to Belgium exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fourfold. Singapore (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Singapore (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with an X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Thailand (X% per year).

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, showed a deep downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Belgium ($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 Japan (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Malaysia

In 2022, the amount of cultured pearls, precious or semi-precious stones imported into Malaysia dropped to X tons, shrinking by X% on the previous year. Over the period under review, imports, however, posted a perceptible expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, precious stone and pearl imports fell notably to $X in 2022. Overall, imports recorded a drastic downturn. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Hong Kong SAR (X tons) constituted the largest supplier of precious stone and pearl to Malaysia, accounting for a X% share of total imports. Moreover, precious stone and pearl imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. Australia (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hong Kong SAR amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Australia (X% per year).

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

From 2012 to 2022, the average annual growth rate of value from Hong Kong SAR stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Singapore (X% per year).

Import Prices by Country

The average precious stone and pearl import price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :