The import of jewellery of precious metal to Canada experienced notable fluctuations from 2013 to 2023, starting at $1.0601 billion in 2013 and reaching $1.0721 billion in 2023. The year-on-year variation for 2022 and 2023 stood at 1.82% and 1.75%, respectively. Over the past five years, the compound annual growth rate (CAGR) averaged 0.79%. Forecasts suggest a reasonably steady increase, with a CAGR of 1.36% expected over the next five years, culminating in an import value of $1.1685 billion by 2028.
Future trends to watch for include potential impacts from changes in international trade policies, fluctuations in precious metal prices, and evolving consumer preferences towards sustainable and ethically sourced jewellery. Additionally, the effectiveness of government initiatives to support the jewellery sector could significantly influence the import landscape.
