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

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

In 2023, the Norwegian precious stone and pearl market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption enjoyed a strong increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

In value terms, precious stone and pearl production dropped significantly to $X in 2023 estimated in export price. In general, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2022 when the production volume increased by X%. Precious stone and pearl production peaked at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Norway

In 2023, precious stone and pearl exports from Norway fell notably to X kg, reducing by X% compared with the previous year's figure. In general, exports showed a sharp downturn. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, precious stone and pearl exports fell dramatically to $X in 2023. Overall, exports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then reduced rapidly in the following year.

Exports by Country

Denmark (X kg) was the main destination for precious stone and pearl exports from Norway, accounting for a X% share of total exports. Moreover, precious stone and pearl exports to Denmark exceeded the volume sent to the second major destination, Thailand (X kg), fourfold. The third position in this ranking was held by Sweden (X kg), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Denmark amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Sweden (X% per year).

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

From 2012 to 2023, the average annual rate of growth in terms of value to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Sweden (X% per year).

Export Prices by Country

The average precious stone and pearl export price stood at $X per kg in 2023, rising by X% against the previous year. Over the period under review, the export price showed a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per kg), while the average price for exports to Spain ($X per kg) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (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 Norway

In 2023, imports of cultured pearls, precious or semi-precious stones into Norway stood at X tons, with an increase of X% against the year before. In general, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports fell slightly to $X in 2023. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Belgium (X tons), Israel (X tons) and Denmark (X tons) were the main suppliers of precious stone and pearl imports to Norway, together comprising X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Israel ($X) and the UK ($X) appeared to be the largest precious stone and pearl suppliers to Norway, together comprising X% of total imports. The United States, Denmark, India, the Netherlands, Sweden and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average precious stone and pearl import price stood at $X per ton in 2023, waning by X% against the previous year. In general, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform