Jewelry exports exceed $3 billion

The exports of the Turkish jewellery industry grew by 4.5 per cent in the first 7 months of the year, exceeding 3 billion dollars.

Jewelry Exporters' Association (MIB) has published the sector report prepared by the Turkish Exporters Assembly (TIM) based on foreign trade data, TRT Haber reports.

Accordingly, the Jewelry industry's exports in July reached 371 million dollars. In the first 7 months of 2022, exports amounted to 3 billion 68 million 756 thousand dollars. Compared to the same period of the previous year, the rate of increase in exports was 4.5 per cent.

In July, the country to which the most jewellery exports were made was the United Arab Emirates, with export of $72 million.

This country was followed by the United States (USA) with export of $47 million and Hong Kong with export of $42 million. Iraq took fourth place with $30 million of exports, and Kyrgyzstan took fifth place with the export of $24 million.

In the first 7 months of the year, the highest export was made to the USA with an increase of 21.9 per cent and 553.6 million dollars, followed by the United Arab Emirates with an increase of 61.7% and exports of 545 million dollars, an increase of 41% and Hong Kong followed with $325 million. Iraq took the fourth place with $183 million of exports, and Israel took fifth place with $151 million of exports.

According to TIM's data showing the changes in exports in the jewelry industry on a product basis, the most exported product group in July was "jewelry and jewelry made of gold", with an export of $303 million.

Exports were $28.6 million in the "unprocessed or semi-processed gold" group, 13.5 billion dollars in the "gold jewellery and accessories with diamonds" group, and 8.2 million dollars in the "silver made jewelry and jewelry" group.

In the first 7 months of the year, exports of "jewelry and jewelry made of gold" increased by 30 per cent compared to the same period of the previous year and amounted to 2 billion 459 million dollars. "Unprocessed or semi-processed gold" group took the second place, with an export of 234 million dollars.

The exports of the products in the group of "jewelry items and accessories made of gold with diamonds" gained a high momentum and came in third with an increase of 80.7 per cent and an export of 149 million dollars. In the fourth place, with an increase of 12.6% and an export of 85 million dollars, "jewelry and jewelry made of silver" took place.