Russian Federation: Imitation Jewellery Market 2023

Imitation Jewellery Market Size in the Russian Federation

The Russian imitation jewellery market totaled $X in 2021, increasing by 3.8% against the previous year. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Imitation Jewellery Production in the Russian Federation

In value terms, imitation jewellery production totaled $X in 2021 estimated in export price. Overall, production saw a perceptible slump. The pace of growth was the most pronounced in 2016 when the production volume increased by 37%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Imitation Jewellery Exports

Exports from the Russian Federation

After four years of decline, overseas shipments of imitation jewelry increased by 54% to X tons in 2021. Overall, exports showed a strong expansion. The growth pace was the most rapid in 2016 when exports increased by 112%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, imitation jewellery exports surged to $X in 2021. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 186% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Belarus (X tons), Kazakhstan (X tons) and Ukraine (X tons) were the main destinations of imitation jewellery exports from Russia, with a combined 86% share of total exports. These countries were followed by Hong Kong SAR, the United States and Armenia, which together accounted for a further 8.2%.

From 2012 to 2021, the biggest increases were in Hong Kong SAR (with a CAGR of +50.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for imitation jewellery exported from Russia were Hong Kong SAR ($X), Belarus ($X) and Kazakhstan ($X), with a combined 81% share of total exports.

Hong Kong SAR, with a CAGR of +74.0%, saw the highest growth rate of the value of exports, in terms of 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 imitation jewellery export price stood at $X per ton in 2021, surging by 21% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 54%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Ukraine ($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 Hong Kong SAR (+15.5%), while the prices for the other major destinations experienced a decline.

Imitation Jewellery Imports

Imports into the Russian Federation

In 2021, imports of imitation jewelry into Russia amounted to X tons, growing by 6.6% compared with 2020 figures. Overall, imports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2018 when imports increased by 40%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imitation jewellery imports expanded remarkably to $X in 2021. Over the period under review, imports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2018 when imports increased by 26% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest imitation jewellery supplier to Russia, accounting for a 83% share of total imports. Moreover, imitation jewellery imports from China exceeded the figures recorded by the second-largest supplier, Belarus (X tons), more than tenfold. The third position in this ranking was taken by India (X tons), with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+60.8% per year) and India (+2.5% per year).

In value terms, China ($X) constituted the largest supplier of imitation jewellery to Russia, comprising 56% of total imports. The second position in the ranking was held by India ($X), with a 1.4% share of total imports. It was followed by Belarus, with a 1.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.4% per year) and Belarus (+18.3% per year).

Import Prices by Country

In 2021, the average imitation jewellery import price amounted to $X per ton, rising by 7.6% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 15% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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