Jewellery and precious metal wares market in Germany

Earlier Report Observations

The German jewellery and precious metal wares market expanded significantly from 2018 to 2019, with market size rising from $310 million to $531 million. This growth was supported by a solid market foundation and a trend towards high-quality gold and platinum jewellery, which boosted jewellers' profitability. The Inhorgenta Munich trade fair served as a key industry event, driving order intake at the start of the year.

After a pause in 2020, the market resumed its upward trajectory, reaching $580 million in 2021 and $683 million in 2022. Despite the pandemic and geopolitical conflicts, the sector recorded a substantial turnover increase in 2022. Consumers' growing desire for shopping experiences prompted retailers to adopt new sales strategies, while rising energy and food prices introduced inflationary pressures that shaped the following year.

In 2023, the number of specialty retail stores remained stable, with brick-and-mortar shops dominating over online channels. Export momentum weakened due to soft demand in China and caution in the Middle East amid regional conflicts. By 2024, the industry reported stable euro values but falling unit sales, affected by consumption slumps in key international markets, inflation, high wage levels, and notably elevated gold prices. Sanctions on Russian diamonds, implemented in early 2024, were supported by the jewellery sector. Import and export volumes stayed high, though with certain distortions.

Production jewellery and precious metal wares in Germany

In value, 2017-2020, M $ US

In 2019, Germany's output of jewellery and precious metal wares was valued at 502.7 million US dollars, marking a 7.0% decline compared to 2018.

Annual dynamics of production in Germany in value, 2017-2020, M $ US

Exports jewellery and precious metal wares from Germany

Exports in kind, t

Shipments of jewellery and precious metal wares from Germany to abroad declined for the third consecutive year. In 2020, the export volume reached 321.5 tonnes, which is 3.0% lower than in 2019. Over the period from 2017 to 2020, exports decreased by 24%, with a compound annual growth rate (CAGR) of -8.7%.

Annual dynamics of product's exports from Germany in kind, 2017-2020, t

From 2017 to 2020, exports in kind of jewellery and precious metal wares from Germany were relatively evenly distributed. The United Kingdom accounted for 16.9% of exports in kind, Italy for 14.8%, and France for 11.8%, with these three countries together making up 43.5% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Germany in kind, 2017-2020

Exports in value, M $ US

Exports of jewellery and precious metal wares from Germany declined for the third consecutive year. In 2020, exports stood at 1 484 million US dollars, representing a solid decline of 11.8% compared to 2019. Over the period from 2017 to 2020, exports decreased by 26.9%, with a compound annual growth rate (CAGR) of -9.9%.

Annual dynamics of product's exports from Germany in value, 2017-2020, M $ US

From 2017 to 2020, the United Kingdom, France, and Italy were the largest buyers of jewellery and precious metal wares from Germany in value terms. The United Kingdom accounted for 18.8% of exports, France for 15.7%, and Italy for 12.4%. However, their combined contribution was limited to 46.9% of total exports in value terms, reflecting a diversified country structure.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Germany in value, 2017-2020

Imports jewellery and precious metal wares to Germany

Imports in kind, t

After a two-year decline, foreign supplies of jewellery and precious metal wares to Germany increased. In 2020, the import volume amounted to 430.8 tonnes, equivalent to a gain of 4.0% compared to 2019. Between 2017 and 2020, imports decreased by 7.2%, equating to an annualized rate of -2.5%. The lowest value was recorded in 2019 at 414.4 tonnes, with the largest decline of 10.0% also occurring in that year.

Annual dynamics of product's imports to Germany in kind, 2017-2020, t

Throughout 2017 to 2020, three key markets—Thailand, China, and Italy—dominated imports in kind, together accounting for 83.3% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Germany in kind, 2017-2020

Imports in value, M $ US

Germany's imports of jewellery and precious metal wares declined for the second consecutive year. In 2020, imports stood at 1 599 million US dollars, equivalent to a moderate decrease of 6.5% compared with 2019. Over the period from 2017 to 2020, imports decreased by 3.3%, with a compound annual growth rate (CAGR) of -1.1%. The highest value was recorded in 2018 at 1 759 million US dollars, with the largest increase of 6.4% also occurring in that year.

Annual dynamics of product's imports to Germany in value, 2017-2020, M $ US

From 2017 to 2020, Thailand, Switzerland, and Italy accounted for the largest share of imports in value terms. Thailand represented 36.8% of imports, Switzerland 16.4%, and Italy 7.8%, with these three countries together comprising 61.0% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Germany in value, 2017-2020