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

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

The Peruvian precious stone and pearl market expanded remarkably to $X in 2022, growing by X% against the previous year. In general, consumption recorded a measured expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, precious stone and pearl production reduced modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2021, and then reduced slightly in the following year.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Peru

Precious stone and pearl exports from Peru contracted significantly to X tons in 2022, with a decrease of X% on the year before. Overall, exports, however, posted a significant increase. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, precious stone and pearl exports skyrocketed to $X in 2022. In general, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for precious stone and pearl exports from Peru, with a X% share of total exports. Moreover, precious stone and pearl exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), fivefold. The third position in this ranking was taken by Turkey (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Turkey (X% per year).

In value terms, the United States ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Peru, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Canada (X% per year).

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, faced a significant contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Belgium ($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 Australia (X%), 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 Peru

Precious stone and pearl imports into Peru expanded slightly to X tons in 2022, surging by X% on the year before. In general, imports recorded resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports shrank to $X in 2022. Overall, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of precious stone and pearl to Peru, accounting for a X% share of total imports. Moreover, precious stone and pearl imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

In value terms, India ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Peru, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, falling by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 India ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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