The jewellery production value in Austria has experienced fluctuations from 2013 to 2023. Starting at 66.9 million Euros in 2013, it rose to 106.8 million Euros by 2018, before dipping to 75.1 million Euros in 2019. The value rebounded gradually over the following years, reaching 89.0 million Euros by 2023. This reflects a mix of robust growth and periods of decline, with the most significant decline occurring from 2018 to 2019. The last two years, 2022 and 2023, saw marginal increases, with year-on-year variations of 0.34% and 0.23% respectively. The compound annual growth rate (CAGR) for the past five years was -3.58%, indicating mild recovery post-2019.
Looking towards the future, the forecast data suggests a very modest growth trajectory, with the jewellery production value expected to increase to 89.6 million Euros by 2028. The forecasted five-year CAGR is 0.09%, and the growth rate is anticipated to be 0.45% by 2028.
Future trends to watch for include:
- The impact of economic cycles on consumer spending for luxury items.
- Changes in consumer preferences towards sustainable and ethically sourced jewellery.
- Innovations in jewellery design and manufacturing technology.
- Global economic factors influencing the cost of precious metals and gemstones.
