Key Market Indicators
Icelander Jewelry Sales are projected to plummet to approximately €3.1 million by 2028, a sharp decline from the €5.6 million recorded in 2023. This represents an average annual decrease of 9.5%. The market has been consistently shrinking, with a 4% year-on-year decline noted since 2019. Meanwhile, Icelander Jewelry Imports are expected to climb to around €4,160 thousand by 2028, up from €3,840 thousand in 2023. This growth reflects a compound annual growth rate (CAGR) of 1.3%. Since 2009, the demand for imported jewelry in Iceland has increased by 6% annually. In 2023, Iceland ranked 35th globally in jewelry imports, with Montenegro leading slightly ahead at €3,840 thousand. The top importers in this category were the United Kingdom, France, and Italy, holding the second, third, and fourth positions respectively. On the export front, Icelander Jewelry Exports are forecasted to reach €313 thousand by 2028, rising from €241 thousand in 2023. This marks an average annual growth of 4.1%. Iceland's jewelry supply has seen a robust 14.2% annual increase since 2009. In 2023, Iceland was the 34th largest exporter, with Serbia surpassing it with €241 thousand. Italy, the United Kingdom, and France were the second, third, and fourth largest exporters in this category.
