Singapore: Imitation Jewellery Market 2024

Imitation Jewellery Market Size in Singapore

The Singaporean imitation jewellery market rose rapidly to $X in 2022, increasing by X% against the previous year. Overall, consumption, however, recorded a resilient increase. Imitation jewellery consumption peaked in 2022 and is likely to see steady growth in years to come.

Imitation Jewellery Production in Singapore

In value terms, imitation jewellery production dropped notably to $X in 2022 estimated in export price. In general, production faced a abrupt decrease. The pace of growth was the most pronounced in 2016 with an increase of X%. Imitation jewellery production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Imitation Jewellery Exports

Exports from Singapore

In 2022, shipments abroad of imitation jewelry decreased by X% to X tons, falling for the fourth year in a row after three years of growth. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, imitation jewellery exports rose remarkably to $X in 2022. Overall, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Japan (X tons), Malaysia (X tons) and Indonesia (X tons) were the main destinations of imitation jewellery exports from Singapore, together accounting for X% of total exports. Oman, Australia, Thailand, Taiwan (Chinese), Hong Kong SAR, South Korea, India and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for imitation jewellery exported from Singapore were Japan ($X), Australia ($X) and Malaysia ($X), with a combined X% share of total exports. China, Thailand, Taiwan (Chinese), South Korea, India, Indonesia, Hong Kong SAR and Oman lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average imitation jewellery export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price posted a prominent increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Oman ($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.

Imitation Jewellery Imports

Imports into Singapore

In 2022, supplies from abroad of imitation jewelry increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, showed a deep slump. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, imitation jewellery imports skyrocketed to $X in 2022. Over the period under review, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of imitation jewellery to Singapore, accounting for a X% share of total imports. Moreover, imitation jewellery imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Thailand (X% per year).

In value terms, Italy ($X), Thailand ($X) and China ($X) constituted the largest imitation jewellery suppliers to Singapore, together accounting for X% of total imports. France, Hong Kong SAR, Spain, Vietnam, the United States, India and Austria lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, recorded 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

The average imitation jewellery import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price showed a buoyant increase. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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