Kenya: Jewelry Market 2024

Jewelry Market Size in Kenya

The Kenyan jewelry market skyrocketed to $X in 2022, increasing by X% against the previous year. Over the period under review, the total consumption indicated a resilient increase 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, consumption increased by X% against 2019 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Jewelry Production in Kenya

In value terms, jewelry production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a remarkable increase 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Jewelry Exports

Exports from Kenya

In 2022, after three years of decline, there was significant growth in shipments abroad of jewelry, when their volume increased by X% to X kg. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, jewelry exports stood at $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for jewelry exports from Kenya, accounting for a X% share of total exports. Moreover, jewelry exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold. Germany (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Germany (X% per year).

In value terms, the United States ($X) remains the key foreign market for jewelry exports from Kenya, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Uganda, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Uganda (X% per year).

Export Prices by Country

In 2022, the average jewelry export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price recorded a dramatic downturn. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X,897 per ton), while the average price for exports to the United Arab Emirates ($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 Uganda (X%), while the prices for the other major destinations experienced more modest paces of growth.

Jewelry Imports

Imports into Kenya

In 2022, imports of jewelry into Kenya skyrocketed to X tons, picking up by X% on the previous year. Overall, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, jewelry imports contracted remarkably to $X in 2022. In general, imports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then reduced dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest jewelry supplier to Kenya, with a X% share of total imports. Moreover, jewelry imports from China exceeded the figures recorded by the second-largest supplier, India (X kg), more than tenfold. The United States (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of jewelry to Kenya, comprising X% of total imports. The second position in the ranking was taken by Mauritius ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mauritius (X% per year) and Italy (X% per year).

Import Prices by Country

In 2022, the average jewelry import price amounted to $X per kg, declining by X% against the previous year. Overall, the import price recorded a dramatic descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per kg, and then declined sharply in the following year.

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

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

Source: IndexBox Platform

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