Metal Trigger Upgrade
Jewelry Export Industry Faces Slowdown Upgrade
February 6, Gems & Jewelry Trade Association of China announced the jewelry export inventory data in 2008. Statistics show that China’s jewelry exports in 2008 the amount of 8,340,629,962 U.S. dollars, up 3.94%, 16.81% higher than the year 2007 a marked decline in growth. Jewellery exports slowed down, indicating the U.S. subprime mortgage crisis triggered by the global financial turmoil and the grim international economic situation, China’s jewelry export industry had a big impact. With the slowdown in exports, the Chinese jewelry industry also welcomed the opening of new markets, an export development of domestic and industrial upgrading change.
Data show that in 2008 China’s export growth rate of various types of jewelry in general and steep mixed different categories. Diamonds, precious metals or clad with precious metal jewelry and parts manufacturing, silver and platinum materials, natural or cultured pearls, imitation jewelry and other products have different rate of export growth over the previous year. Among them, diamond, silver (not forged, semi-manufactured or powder form) Metals or precious metal jewelry and parts exports were up 10.49%, 6.13% and 5.33%. As the three jewels in our export share of the weight is very large, so they export growth to China’s products in 2008 contributed greatly to the growth of total exports. Platinum (unwrought, semi-manufactured or powder form) ranked first in export growth rates (55%), the growth of natural or cultured pearls smallest, only 1.93%.
Decline in export products, in accordance with the degree of decline in the level of arrangement, precious metals or clad with precious metal gold and silver system, and parts thereof, precious or semi precious stones, precious metals or clad with precious metal of the other products of natural or cultured pearls and precious or semi precious stones manufactured goods, synthetic or reconstructed precious or semi-precious stones of the year exports decreased by 80.36%, 28.05%, 21.68%, 10.71%, 4.19%. Which precious metal or metal clad with precious gold and silver system and parts thereof, precious or semi-precious stones fall’s top two ranked decline, and reveals that Chinese jewelry enterprises in international markets and the direct impact of weak demand. Because these two products mainly export to general trade.
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