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

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

The Norwegian precious stone and pearl market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption continues to indicate a abrupt decline. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, precious stone and pearl production soared to $X in 2022 estimated in export price. Over the period under review, production saw strong growth. Precious stone and pearl production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Norway

In 2022, the amount of cultured pearls, precious or semi-precious stones exported from Norway skyrocketed to X tons, picking up by X% on the previous year. Overall, exports showed a strong increase. The growth pace was the most rapid in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, precious stone and pearl exports surged to $X in 2022. In general, exports saw a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium (X tons) 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 Belgium exceeded the volume sent to the second major destination, Thailand (X tons), sixfold. Sweden (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium totaled 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, Belgium ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Norway, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Sweden, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Belgium 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).

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price posted a mild increase. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Thailand ($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 Turkey (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 2022, after two years of growth, there was significant decline in purchases abroad of cultured pearls, precious or semi-precious stones, when their volume decreased by X% to X tons. In general, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, precious stone and pearl imports amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of $X; afterwards, it flattened through to 2022.

Imports by Country

Belgium (X tons), India (X tons) and Israel (X tons) were the main suppliers of precious stone and pearl imports to Norway, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (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 India ($X) were the largest precious stone and pearl suppliers to Norway, with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, recorded a deep downturn. The growth pace was the most rapid in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Israel ($X per ton), while the price for the UK ($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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