The forecast of the jewellery production value in Norway from 2024 to 2028 shows a steady decline. The production value is expected to decrease from 50.1 million Euros in 2024 to 46.4 million Euros in 2028. Notably, the production value stood at 51.0 million Euros in 2023, indicating a decreasing trend.
Year-on-year percentage variations for each year from 2024 to 2028 highlight successive declines:
• 2024: -1.8%
• 2025: -1.8%
• 2026: -2.0%
• 2027: -1.9%
• 2028: -1.9%
Analyzing trends over the last two years and using the CAGR (Compound Annual Growth Rate) for the next five years, we observe an average annual decline of approximately 1.8% per year.
Future trends to watch include shifts in consumer preferences towards sustainable and ethically sourced jewellery, potential impacts of technological advancements in production, and fluctuations in raw material prices. Monitoring these trends will be crucial for understanding the long-term outlook of the jewellery production market in Norway.
