The value of stone being imported into the UK, once slate and hard landscaping has been stripped out of the figures, fell about 15% between 2008 and 2009 and has remained at roughly that lower level since then.
But the value of imports is a reflection of an increase in the average sterling price of the stone coming into the country and disguises a much steeper decline in the volume of stone being imported. Between the high point of 2008 and last year’s low, the volume of stone coming into the UK fell by 48% while the average price has increased 59%, according to the figures from HMRC.
Currency fluctuations and price rises have played their part in the rising average price of the stone being imported but, according to the wholesalers, so has the nature of the market. The middle sector has contracted considerably but the more affluent end is continuing to spend, perhaps scenting the opportunity for a bargain as hard-pressed processors and installers compete more aggressively for the work that is still available.
The further up the market you go, the further the price:aesthetic ratio moves towards the aesthetic as the more confident customers seek out exclusive products in order to make the statements that those further down the market tend to avoid making.
That has led to wholesalers looking more towards distinctive materials, especially from Latin America, although the region still only accounts for about 1% of overall stone imports.