Which Country Produces & Consumes The Most Jewellery Per Year?

Sales of high-end jewellery and watches have increased hugely over the past two years. Mintel, one of the world's leading market research agencies recently discovered that jewellery and watch sales have rocketed up to 66 percent over 2019 and 2020, an increase of 5 percent on the previous two years.
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With this in mind, we have decided to analyse the production, consumption, importing and exporting of jewellery, diamonds, gold and silver, all of which contribute to the manufacturing of high-end jewellery and watches worldwide.

It may come as little surprise that top of the leaderboard for jewellery and wristwatch sales is economic superpower - China.
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With the largest economy on the planet, the Chinese market spend an astonishing $111.46 billion on jewellery and watches on a yearly basis. Second largest spender is, you guessed it, the United States of America. Nowhere near as much as China, but with a considerably smaller population, the USA as a whole spends, on average, $61.76 billion on jewellery or watches each year. This is an incredible amount of money and again shows how huge the market for jewellery and watches is around the globe. Hong Kong comes in at third in the list, with a total of $20.9 billion spending most on jewellery and watches on a yearly basis.