Worldwide jewellery sales rise by 4% in 2018

Global sales of diamond jewellery grew by 4% in 2018 compared with last year and amounted to $85.9bn (£65.2bn).

According to Alrosa, the growth rate of the global jewellery market was lower than in 2017 (+5%), mainly as a result of a slowdown in key consumption markets in the second half of 2018.

In the first half of the year, there was persistently high demand from the local population and tourists in the key consumption markets, which ensured the growth of the global jewelry market by 6%.

In the second half of the year, consumer demand in non-dollar countries began to show less steady growth rates, and in individual countries – a decline, under the influence of national currencies against the US dollar weakening. At the same time, the growth rate of the global diamond jewelry market slowed down to +2% in the second half of the year.

A statement by the group read: “Diamond jewellery sales in North America, which accounts for more than half of overall sales, showed consistently high growth rates for most of the year, providing a 4% increase in 2018 compared with last year.

“Sales in Asia in the first half showed higher growth rates than in North America. In the second half, given the deterioration of the overall foreign economic situation in the region, the growth rate of diamond jewellery sales slowed down to +1%, providing a growth of 5% comparable to the North American market by the end of 2018.”