Key Market Indicators
Serbia's jewelry export market is projected to reach approximately €1.1 million by 2028, up from around €955 thousand in 2023. This growth reflects an average annual increase of 2.2%. However, since 2010, the country's jewelry supply has seen a slight annual decline of 0.7%. In 2023, Serbia ranked 33rd in jewelry exports, with Bosnia and Herzegovina overtaking it at €955 thousand. Italy, the United Kingdom, and France ranked second, third, and fourth, respectively. On the import side, Serbia's jewelry market is set to significantly expand. By 2028, imports are expected to reach roughly €36 million, a substantial increase from €16.5 million in 2023. This marks an average annual growth rate of 12%. Since 2010, Serbian demand for imported jewelry has surged by 24.6% annually. In 2023, Serbia was ranked 31st in jewelry imports, trailing behind Cyprus at €16.5 million. The United Kingdom, France, and Italy held the second, third, and fourth positions in this ranking, respectively. In terms of sales, Serbia's jewelry market is anticipated to reach €16.3 million by 2028, slightly down from €16.6 million in 2023. This represents a modest annual decline of 0.4%. Despite this, since 2019, the Serbian jewelry market has experienced a year-on-year growth of 3.4%.
