Key Market Indicators
Belgium's jewelry export market is expected to climb to approximately €438 million by 2028, up from around €326 million in 2023. This represents an average annual growth rate of 4.7%. Belgian supply has seen a consistent rise of 6% annually since 2009. In the global ranking for 2023, Belgium held the 9th position, with the Netherlands taking the lead at €326 million. Italy, the United Kingdom, and France secured the 2nd, 3rd, and 4th spots respectively. On the import front, Belgium's jewelry market is projected to reach €322 million by 2028, up from €281 million in 2023, growing at an average annual rate of 2.2%. Since 2009, the country's demand for jewelry has increased by 6.6% each year. For 2023, Belgium ranked 12th, with Austria slightly ahead at €281 million. The United Kingdom, France, and Italy were the top three importers, occupying the 2nd, 3rd, and 4th positions respectively. However, the outlook for Belgian jewelry sales is less optimistic. Sales are forecasted to drop to approximately €126 million by 2028, down from €297 million in 2023, equating to a compound annual growth rate (CAGR) decline of 13.6%. The market has been shrinking by 12.3% annually since 2013. A separate projection indicates Belgian jewelry sales might fall to €181 million by 2028 from €387 million in 2023, reflecting a yearly decline of 12.1% in CAGR. The market has been decreasing by 7.5% each year since 2015.
