The import volume of jewelry and parts of precious metal except silver to Japan is set to steadily increase from 2024 to 2028, starting at 8.7373 million kg in 2024 and reaching 9.7651 million kg by 2028. The year-on-year growth shows a steady increase of around 3% annually. In 2023, actual data indicated a lower import volume than the forecasted 2024 figure, marking the beginning of a positive trend. The five-year compound annual growth rate (CAGR) is approximately 2.8%, reflecting sustained demand in Japan's luxury goods sector.
Future trends to watch include changes in consumer preferences for luxury goods, potential trade policy shifts, and economic factors influencing luxury spending capacity. Additionally, the impact of global gold prices and technological advancements in jewelry manufacturing could affect future import levels.
