The import value of silver jewelry and parts of precious metals to Vietnam has shown a steady increase over the past decade, standing at USD 6,268.9 thousand in 2023. This value marks a steady upward trend from 2013, reflecting a compound annual growth rate (CAGR) of 5.55% over the past five years.
Year-on-year variation analysis shows significant fluctuations, with a notable peak of 134.9% growth in 2015. More recent years indicate moderate but consistent growth, with the year-on-year rate for 2023 at 4.76% and the prior year (2022) at 5.11%.
Looking ahead, forecasts suggest continued growth, albeit at a slightly slower pace, with an anticipated CAGR of 3.08% over the next five years and a total forecasted increase of 16.36% by 2028.
Future trends to watch for include potential impacts from global economic conditions, shifts in consumer preferences towards more sustainable and ethical sourcing of precious materials, and the increasing integration of technology in jewelry manufacturing and retail processes.
