TEMPO.CO, Jakarta – Indonesia's jewelry exports value reached US$3.86 billion in the period of January-October 2014. Nus Nuzulia Ishak, the Trade Ministry's director general of national export development, said the value is 69.6 percent higher from 2013's same period, which amounted to US$2.27 billion.
The export surge was supported by increased demand from destination countries like Hong Kong, Singapore, Japan, South Africa, and the United Arab Emirates. "This positive uptrend has been going on for five years, with an average increase of 28.03 percent," Nus told Tempo, yesterday.
The government continues to develop local jewelry products to encourage the growth of innovation and creativity of jewelry artisans. The Trade Ministry is also working to develop potential markets for jewelries while maintaining its main market.
According to the Central Statistics Agency data for January-October 2014, Indonesia's main jewelry markets are Hong Kong with a share of 21.58 percent, Singapore (20.03 percent), Japan (18.48 percent), South Africa (14.68 per cent), and the United Arab Emirates (11.77 percent).