Uruguay: Imitation Jewellery Market 2023

Imitation Jewellery Market Size in Uruguay

In 2021, after three years of decline, there was significant growth in the Uruguayan imitation jewellery market, when its value increased by 17% to $X. Overall, consumption showed a pronounced curtailment. Imitation jewellery consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Imitation Jewellery Exports

Exports from Uruguay

In 2021, shipments abroad of imitation jewelry increased by 203% to X kg for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports enjoyed strong growth. The growth pace was the most rapid in 2018 when exports increased by 358%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, imitation jewellery exports skyrocketed to $X in 2021. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 804% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Peru (X kg) was the main destination for imitation jewellery exports from Uruguay, with a 51% share of total exports. Moreover, imitation jewellery exports to Peru exceeded the volume sent to the second major destination, Brazil (X kg), threefold. The third position in this ranking was held by Chile (X kg), with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+43.2% per year) and Chile (-6.7% per year).

In value terms, Hong Kong SAR ($X), Peru ($X) and France ($X) constituted the largest markets for imitation jewellery exported from Uruguay worldwide, together comprising 57% of total exports. These countries were followed by Argentina, Chile, Brazil, Oman, the United States and Paraguay, which together accounted for a further 35%.

Brazil, with a CAGR of +23.5%, saw the highest rates of growth with regard to 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, rising by 7.7% against the previous year. Over the period under review, the export price, however, showed a slight curtailment. The pace of growth appeared the most rapid in 2018 when the average export price increased by 97%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Paraguay ($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 France (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imitation Jewellery Imports

Imports into Uruguay

For the fourth year in a row, Uruguay recorded decline in overseas purchases of imitation jewelry, which decreased by less than 0.1% to X tons in 2021. Over the period under review, imports showed a pronounced decrease. The most prominent rate of growth was recorded in 2017 with an increase of 15%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, imitation jewellery imports skyrocketed to $X in 2021. In general, imports saw a mild descent. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of imitation jewellery to Uruguay, accounting for a 86% share of total imports. Moreover, imitation jewellery imports from China exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold. Brazil (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-3.8% per year) and Brazil (+10.6% per year).

In value terms, China ($X) constituted the largest supplier of imitation jewellery to Uruguay, comprising 68% of total imports. The second position in the ranking was taken by Brazil ($X), with a 17% share of total imports. It was followed by Argentina, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+6.7% per year) and Argentina (-11.6% per year).

Import Prices by Country

The average imitation jewellery import price stood at $X per ton in 2021, surging by 28% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Brazil ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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