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Turkiye: Jewelry exports exceeded $3 billion

The exports of the Turkish jewelry industry grew by 4.5% in the first 7 months of the year, exceeding $3 billion.

Jewelery Exporters’ Association (MIB) has published the sector report prepared by the Turkish Exporters Assembly (TIM) based on foreign trade data.

Accordingly, the jewelry industry’s exports in July reached $371 million. In the first 7 months of 2022, exports amounted to $3 billion 68 million 756 thousand. Compared to the same period of the previous year, the rate of increase in exports was 4.5%.

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

This country was followed by the United States (USA) with an export of $47 million and Hong Kong with an export of $42 million. Iraq took the fourth place with $30 million of exports, and Kyrgyzstan took the fifth place with an 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% and $553.6 million, followed by the United Arab Emirates with an increase of 61.7% and exports of $545 million, an increase of 41% and Hong Kong followed with $325 million. Iraq took the fourth place with $183 million of exports, and Israel took the 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 in the “gold jewelry and accessories with diamonds” group, and $8.2 million 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% compared to the same period of the previous year and amounted to $2 billion 459 million. “Unprocessed or semi-processed gold” group took the second place, with an export of $234 million.

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% and an export of $149 million. In the fourth place, “jewelry and jewelry made of silver” took place with an increase of 12.6% and an export of $85 million.

Source: Trthaber / Translated by Irem Yildiz

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