Market evolution: Imitation jewellery (CN 711790) — 2015–2025
Introduction
This report analyzes the evolution of the European Union's trade in imitation jewellery (Customs Code 711790) over the period from 2015 to 2025. The sector encompasses a wide range of fashion and costume jewellery not made of precious metals. Over the decade, the EU's market underwent a profound structural transformation. While the value of trade remained substantial, the underlying volumes and trade flows shifted dramatically, moving from a mass-market, import-dependent model toward a high-value, export-oriented and more self-reliant industry. Key drivers of this change include a significant upgrade in the value proposition of EU exports, a consolidation of the import base, and the geopolitical shock of Brexit.
You can explore the complete data underpinning this analysis on the EU Trade Dashboard for CN 711790.
1. The Great Divergence: From Volume to Value in EU Exports
The most striking feature of the period is the radical decoupling of export volume from export value. The EU transitioned from being a bulk exporter to a niche, high-value exporter of imitation jewellery.
1.1 A collapse in volume paired with a surge in value
Between 2015 and 2025, the physical quantity of EU exports plummeted by 82.7%, falling from 7,386 tonnes to 1,275 tonnes. This was the minimum recorded volume during the period. However, the value of these exports increased by 23.2%, rising from €277 million to €342 million. This divergence is explained by a staggering 612.2% increase in the average export price, which climbed from €37,499 per tonne to €267,081 per tonne. This indicates that EU producers have successfully shifted their product mix away from mass-produced, lower-margin items towards premium, designer, or technically complex imitation jewellery.
1.2 Key high-value markets absorb the shift
The rising export value was sustained by growth in key mature and high-income markets, despite volume reductions elsewhere.
| Partner Country | Export Value 2015 (€) | Export Value 2025 (€ | Change (%) | Coefficient of Variation (Volatility) |
|---|---|---|---|---|
| United Kingdom | 30,949,574 | 47,493,316 | +53.5% | 1.86 (High) |
| United States | 49,188,613 | 70,519,234 | +43.4% | 0.19 (Low) |
| Switzerland | 24,075,518 | 27,812,208 | +15.5% | 0.11 (Very Low) |
| Japan | 22,676,516 | 25,642,566 | +13.1% | 0.49 (Moderate) |
| China | 11,589,884 | 25,857,801 | +123.1% | 0.52 (Moderate) |
The top export partners data reveals that the United States and the United Kingdom remained the largest single-country markets. Notably, exports to China more than doubled, suggesting a growing appetite for European-designed fashion accessories among Chinese consumers.
1.3 Export volatility and price shocks
Export volatility varied significantly by destination. Trade with Panama and the United Kingdom was particularly volatile (CV of 2.99 and 1.86, respectively), while flows to the US, Switzerland, and Norway were very stable. The data also records specific price shocks, such as a 379% price shift for exports to the UK centered in 2021, which may be linked to post-Brexit customs and logistics adjustments.
2. The Consolidated Supply Base: China's Dominance and the Brexit Reconfiguration
The import side of the market tells a story of resilience from the world's primary supplier, China, contrasted with a dramatic reconfiguration of intra-European trade flows following the United Kingdom's departure from the EU single market.
2.1 China's unshakeable position as the primary supplier
China consistently remained the EU's dominant source of imitation jewellery, accounting for a large share of imports by value. Over the period, imports from China decreased marginally by 3.6%, from €213 million to €206 million. However, its share of total EU imports likely increased as other sources shrank. The volatility of imports from China was the lowest among the top partners (CV of 0.17), highlighting its role as a stable, high-volume supplier.
| Partner Country | Import Value 2015 (€) | Import Value 2025 (€) | Change (%) |
|---|---|---|---|
| China | 213,237,514 | 205,619,397 | -3.6% |
| United Kingdom | 50,804,902 | 5,262,638 | -89.6% |
| India | 20,066,586 | 20,094,424 | +0.1% |
| Thailand | 9,819,344 | 11,699,767 | +19.2% |
| Indonesia | 4,905,207 | 5,162,105 | +5.2% |
2.2 The Brexit effect: A collapse in trade with the United Kingdom
The most dramatic change occurred in trade with the United Kingdom. Following Brexit, imports from the UK to the EU fell by 89.6%, from €51 million to just €5 million. This transformation is vividly captured in the shift in UK trade volatility, where the coefficient of variation spiked to nearly 1.0. The UK transitioned from being the second-largest source of imports to a marginal supplier, fundamentally altering the EU's import geography.
2.3 Rising concentration and niche suppliers
The Herfindahl-Hirschman Index (HHI) for imports by value increased by 36.0%, indicating a more concentrated supply base. This concentration is primarily due to the consolidation around China after the UK's exit. Meanwhile, niche suppliers like Thailand (+19.2%) and Indonesia (+5.2%) showed modest growth, offering alternative sourcing options.
3. From Deficit to Surplus: Enhancing Strategic Autonomy
Driven by the export value boom and more contained import spending, the EU's overall trade position in imitation jewellery improved dramatically, reducing its historical vulnerability to import shocks.
3.1 A swing from a significant deficit to a surplus
The EU's trade balance in imitation jewellery underwent a complete reversal. In 2015, the EU recorded a trade deficit of €91.5 million. By 2025, this had transformed into a surplus of €39.6 million. This swing of over €130 million was propelled by the combination of rising export values and falling import values (down 18.1% over the period).
3.2 Drastic reduction in net import reliance
Consequently, the EU's net import reliance collapsed. This metric, measuring the share of domestic demand met by imports, fell from 44.7% in 2015 to a mere 1.6% in 2025. It even turned negative (-7.6%) in some intermediate years, indicating that the EU was a net exporter. This represents a massive enhancement in the strategic autonomy and resilience of the EU industry in this product category.
3.3 A highly specialized and export-oriented EU industry
The EU industry, particularly in southern Europe, has become highly specialized. In 2025, the most specialized producers were Greece (RSCA: 0.51), Italy (0.41), and France (0.33), all with strong revealed comparative advantages. This specialization is mirrored in the national production data: while physical production volumes in the EU plummeted by 86.4%, production value rose by 25.1%, confirming the industry-wide shift to higher-value items. The export propensity of the sector—exports as a share of production—soared from 69% to 151%, underscoring its outward focus.
Conclusion
Over the 2015–2025 period, the EU's imitation jewellery market transformed from a volume-driven, import-dependent sector into a value-driven, specialized, and more autonomous industry. The core dynamic was a dramatic repricing of exports, allowing the EU to maintain and grow trade value despite collapsing volumes. This upgrade, combined with the disruptive but clarifying impact of Brexit on UK-EU trade flows, fundamentally improved the EU's trade balance and reduced its vulnerability to external suppliers. The market is now characterized by a concentrated supply base anchored in China, a highly specialized and competitive production core in EU member states, and a strategic focus on high-income, premium export markets. The industry has successfully navigated a challenging decade by moving up the value chain.