Turkey's $2.5 Billion Jewelry Exports in the First Quarter of the Year
According to data from the Turkish Exporters Assembly (TİM), Turkey's jewelry exports in the period from January to March this year increased by a remarkable 72.1% compared to the same period last year, reaching 2 billion 570 million dollars.
While trade tensions between the United States and China have cast a heavy shadow on the global economy and concerns about a slowdown in economic activity have grown, the Turkish jewelry industry continues to follow an upward trend.
3.9% Share of the Country's Total Exports
Jewelry exports in Turkey during the first quarter of this year accounted for 3.9% of the country's total exports. Turkey’s overall exports in this period increased by 2.5%, reaching 65 billion 305 million dollars.
In the same period last year, jewelry exports stood at 1 billion 493 million dollars, indicating significant growth.
Breakdown of Subcategories in the Jewelry Industry
Data on subcategories of exports in this industry show the following:
- 2.1 billion dollars in gold jewelry products
- 347.3 million dollars in raw or semi-processed gold
- 90.4 million dollars in silver jewelry
- 31.7 million dollars in raw or semi-processed silver
- 22.8 million dollars in precious or coated metal scraps
- 1.9 million dollars in cultured pearls and gemstones
- 3.2 million dollars in watches coated with precious metals
- 3.9 million dollars in imitation jewelry
- 2.7 million dollars in other unprocessed precious metals
- 810 thousand dollars in other items made of precious metals
United Arab Emirates; the Largest Buyer
The highest amount of Turkey's jewelry exports was made to the United Arab Emirates, with a total of 1.2 billion dollars. Following that:
- United States with 199.5 million dollars
- Switzerland with 181.5 million dollars
- Hong Kong with 128 million dollars
- Mexico with 92.6 million dollars
Exports to the United Arab Emirates increased by 838.4 million dollars compared to last year during this period, marking the highest growth in exports.
Other growing markets include:
- Switzerland: +157.1 million dollars
- Kyrgyzstan: +46.3 million dollars
- United States: +37.5 million dollars
- Libya: +35.5 million dollars
Istanbul Leads in Exports
Among Turkey’s provinces, Istanbul led the jewelry export figures with 1.9 billion dollars. Followed by:
- Çorum: 646.1 million dollars
- Trabzon: 30.5 million dollars
- Kastamonu: 16.4 million dollars
- Ankara: 5.6 million dollars
- Sakarya: 3 million dollars
Changes in Exports to Target Countries
The following list shows the changes in Turkey's jewelry exports between January and March for selected countries:
- United Arab Emirates: 224% increase (from 374 million to 1.2 billion dollars)
- United States: 23% increase
- Switzerland: 645% increase
- Hong Kong: 9.5% decrease
- Mexico: 3.6% decrease
- Kyrgyzstan: 111% increase
- Libya: 82.6% increase
- Iraq: 73.6% decrease
- Malaysia: 105% increase
- United Kingdom: 225% increase
