MARKET INTELLIGENCE 市场情报 42 | JNA March/April 2024 Turkish jewellers are proud of what they have achieved in 2023 – a particularly difficult year for global businesses. Türkiye’s jewellery exports grew from strength to strength, registering an impressive 30 per cent year-on-year upsurge to US$7.6 billion last year compared to US$5.8 billion in 2022, data from Türkiye Exporters' Assembly showed. Jewellery shipments also accounted for 3.2 per cent of Türkiye’s total exports. And while majority of Türkiye’s export categories were adversely affected by local and global challenges, the jewellery sector was the third bestperforming sector overall in 2023. Sirzat Akbulak, manager at Turkish Jewellery Exporters’ Association, attributed the continued strength of Turkish jewellery exports to a highly resilient industry that relies on distinct Turkish craftsmanship and business agility. The past year proved extra challenging for Türkiye. On February 6, 2023, a devastating 7.8-magnitude earthquake hit Türkiye and Syria, killing more than 40,000 people and obliterating entire cities. Kahramanmaraş, an important production and export base for the jewellery trade, was severely impacted by the disaster. The Russia-Ukraine war was also at its height in 2023. “Crucial markets like Russia, Ukraine and the Middle East, including Israel, struggled with wars. There was also some difficulty in importing gold,” noted Akbulak. “Despite these challenges, we managed to successfully conclude the year 2023.” Emerging markets, popular products The association also saw significant developments in other markets, most notably in the Far East, including the Philippines, and South America. Specifically, Mexico and Brazil – which are first-time trade partners for Turkish jewellers – proved promising. Türkiye’s traditional markets are the US, the UAE, Hong Kong, Germany, the UK and Iraq. “Russia and Israel are valuable business partners for Türkiye. We want to further bolster our trade with them, but the current situation is unfavourable,” explained Akbulak. “However, losses were also offset by gains in the UAE, the UK and Switzerland.” Highly favoured products in 2023 were gold jewellery, which Türkiye specialises in, as well as jewellery mountings. These had a significant share in total jewellery exports in 2023. Meanwhile, an uptick in diamond jewellery shipments was also recorded. Gold supremacy The jewellery export market in 2023 performed better than the year prior as global markets gradually return to normalcy, with people travelling again, spending money and doing business overseas, said Cevat Genc of Cehverun. The company, whose main customers are from Hong Kong, the US, the Middle East and China, offers plain gold jewellery as well as diamond and coloured gemstone pieces. According to Genc, gold jewellery is more popular | Bernardette Sto. Domingo 杜明高 | aAmd iadpat anbei lxi tt rye, mb uesl yi ncehs as l al egni lgi ti yn ga ne dc oan voi ms i oi cn aa nr yd sppoi rl ii tt i ac ar el ekne vy isr ot on ms uesnt at ,i naicncgo gr dr oi nwgt tho Turkish jewellers. 土耳其珠宝商表示，在极具挑战性的经济和政治环境下，强大的适应力、 企业灵活度和进取精神是持续增长的关键。 Resiliency and innovation fortifying Türkiye’s jewellery sector 土耳其珠宝业坚毅创新
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