Canada's import of pearls, precious stones, metals, and coins showed a significant decline from 2013 to 2018, reaching a low in 2018. However, starting in 2019, imports exhibited a fluctuating yet broadly upward trend, stabilizing around $10 billion from 2021 to 2023. The value in 2023 stood at $10.087 billion, indicating a stabilization phase.
The year-on-year variation indicated a mix of negative and positive fluctuations, with notable declines from 2013 to 2018 but some recovery observed post-2019. The Compound Annual Growth Rate (CAGR) over the recent five years (2019-2023) was a modest 2.87%, showing a slow upward trend.
Forecast data suggests a slight but steady increase in imports, with a projected CAGR of 0.3% from 2024 to 2028, reaching $10.281 billion by 2028. The overall forecasted five-year growth rate stands at 1.51%.
Future trends to watch for include potential impacts from global economic fluctuations, trade policies, and technological advancements in the mining and gemstone sectors. Additionally, shifts in consumer preferences and emerging markets could play significant roles in shaping import trends.
