In this article, we’ll discuss the top 5 jewelry-exporting countries in the world. If you want to read the details about the jewelry market and the major players in the jewelry industry, then check out Top 15 Jewelry Exporting Countries in the World.
5. United Arab Emirates
Estimated Export Value of Jewelry 2021: $7.7 billion
The jewelry market in the UAE enjoys widespread popularity driven by several key factors. The region’s rising GDP and increasing per capita income have contributed to a thriving market. Furthermore, the surge in e-commerce sales, reflecting changing consumer tastes and preferences, has reshaped the landscape. Travelers visiting the country have come to expect trendy and fashionable jewelry options, while cooperation between local firms and major fashion houses continues to stimulate innovation and demand.
4. Italy
Estimated Export Value of Jewelry 2021: $9.1 billion
Major factors fueling Italy’s market revenue growth include increased household disposable income and rising demand for bridal jewelry. Changing consumer lifestyles and the perception of jewelry as a status symbol are expected to further boost this growth. The emerging trend of bridal jewelry is a significant driver, and there’s a growing acceptance of men’s jewelry. Additionally, Italy’s jewelry market is increasingly prioritizing sustainability and ethical sourcing, with a focus on sustainable materials.
3. Switzerland
Estimated Export Value of Jewelry 2021: $9.3 billion
Switzerland’s jewelry market is experiencing notable trends, including a growing interest in men’s jewelry and high-end consumers seeking branded gold products. Switzerland holds a prominent position as both a major exporter and importer of jewelry worldwide, with France, China, and Hong Kong being key export destinations, and France, Italy, and the United States serving as primary sources of imports.
2. India
Estimated Export Value of Jewelry 2021: $10.7 billion
India holds the distinction of being the leading jewelry exporting nation, owing to its abundant skilled workforce, cultural reverence for jewelry, and increasing global and domestic demand. The Indian jewelry sector is characterized by fragmentation and informality, with small local shops dominating. Yet, prominent names like Tanishq, Malabar Gold & Diamonds, Joyalukkas, Kalyan Jewellers, Gitanjali, and TBZ are progressively elevating their focus towards branded jewelry, marking a shift up the value chain.
1. China
Estimated Export Value of Jewelry 2021: $11.8 billion
China, as the world’s largest jewelry exporter, owes its position to several driving factors. The growth of China’s middle class and its expanding economy has led to increased domestic consumption of luxury items, including jewelry. Rising wages have created significant opportunities for the retail jewelry sector in the country. China’s manufacturing capabilities are also noteworthy, with the nation being a leading global force in jewelry production and exports. Furthermore, China’s jewelry manufacturing industry benefits from robust growth drivers, including a burgeoning market for high-end jewelry and the rapid pace of urbanization.
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