Albania’s import of precious gems and jewellery hits record in November
According to the Institute of Statistics, Albania recorded a surge in imports of natural pearls, precious stones, and jewellery in November 2024, reaching a new monthly high of ALL 1.4 billion. Data from the Institute of Statistics reveals that imports in this category totalled ALL 6.3 billion from January to November 2024, reflecting a 41% increase—equivalent to ALL 1.8 billion lekë more—compared to the same period in 2023.
Why is this important: The import growth highlights changing consumer trends, particularly driven by festive demand and fears of potential currency depreciation. Italy and Turkey dominate the supply chain, accounting for 90% of imports in this category during the year.
Context: The festive season traditionally boosts demand for unique accessories and luxury items, including personalized jewellery. Retailers report heightened interest in custom-made designs and distinctive pieces during holiday periods. The November peak surpassed October’s previous record, demonstrating sustained momentum and indicating luxury goods’ growing appeal among Albanian consumers.
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