From 2013 to 2023, the employment in the manufacture of jewellery and related articles sector in Germany has experienced substantial volatility, peaking at 10.49K in 2019 and dipping to 5.86K in 2014. As of 2023, the employment stands at 8.73K, displaying an 8.44% year-on-year increase. Over the last two years, there has been a notable 13.97% growth in 2022 followed by an 8.44% rise in 2023. The compounded annual growth rate (CAGR) over the past five years is 1.95%, indicating a relatively stable upward trend.
Forecast data from 2024 to 2028 shows a gradual and consistent growth in employment, with the CAGR projected to be 0.45%. By 2028, the employment is expected to reach 8.99K, reflecting a 2.29% growth rate over the forecast period.
Future trends to watch for:
- Impact of advancements in automation and technology on employment rates.
- Potential shifts in consumer demand for luxury items influencing the sector.
- Regulatory changes and their effects on manufacturing processes and employment.
- Global economic conditions and their repercussions on the jewellery market.
