Analyzing the trend from 2013 to 2023, the wages and salaries in the jewellery industry in Belgium exhibited some fluctuations. The data peaked in 2017 at 25.0 million euros, dropped significantly in subsequent years, and stood at 20.1 million euros in 2023. Year-on-year variations show notable drops in 2014, 2015, 2018, 2019, and 2020. Despite these declines, there were some upward swings in 2017, 2021, 2022, and a minute rise in 2023. The compound annual growth rate (CAGR) over the last five years averaged -0.2%, reflecting a shrinking trend.
Looking ahead, forecasted data from 2024 suggests a consistent decline, with a forecasted 5-year CAGR of -1.13%, leading to a predicted value of 18.8 million euros by 2028.
Future trends to watch for:
- Changes in consumer preferences and demand for jewellery.
- Impact of economic conditions on discretionary spending.
- Technological advancements in jewellery production.
- Potential shifts in trade policies affecting the jewellery market.
