Exports Of Jewelry Goods Reach 3.94 Million US Dollars Until August 2024

Jewelry (Photo: Antara)

The Ministry of Industry noted that the export value of Indonesian jewelry and valuables during January-August 2024 reached 3.94 million US dollars.

This figure has increased by 15.98 percent cumulatively when compared to the achievement in the same period in 2023, which was 3.4 million US dollars.

"This increase shows that the jewelry industry sector has the potential to continue to grow and develop in the international market and we are optimistic that the export achievements will continue to grow," said Director General of Small, Medium and Multifarious Industries (IKMA) of the Ministry of Industry Reni Yanita in a written statement, Tuesday, October 15.

Meanwhile, based on Trademap.org data in 2023, Indonesia is ranked 12th as a jewelry exporter country to the world with a market share of 2.4 percent. The main market destinations are to the United States, India, Hong Kong, China and Switzerland.

With this potential, the Ministry of Industry continues to actively participate in bringing domestic jewelry industry players to be able to hold a wider and sustainable market. One of them is through an international jewelry industry exhibition, namely the Surabaya International Jewellery Fair (SIJF) 2024 which will be held on October 10-13, 2024.

Reni assessed that the Indonesian jewelry industry has great potential to be able to continue to develop driven by cultural wealth to the diversity of natural resources.

Thus, Indonesian craftsmen are able to produce works that are not only stunning in local markets, but also attract the attention of the international market.

Meanwhile, Director of Industry Aneka, and IKM Kimia, Sandang and Crafts, Alexandra Arri Cahyani said, as many as 20 IKM of jewelry fostered received the 2024 SIJF Exhibition facilitation.

These participants have gone through a series of stages ranging from selection to the curation process, as well as from various regions including DKI Jakarta, Banten, Central Java, East Java, West Nusa Tenggara, Bali and South Kalimantan.

According to Alexandra, his party always conveys to IKM players that transaction security and level of consumer confidence are separate challenges that need to be observed by industry players in the jewelry to remain competitive.

He added that industry players must also be committed to maintaining their standards and quality, so that the market that has been formed will maintain its sustainability and development.

"We are very optimistic that if the jewelry industry players are able to maintain the sustainability of domestic market growth, it will have a positive impact on the ability of the jewelry industry to penetrate the global market," he said.