Türkiye’s jewelry exports more than doubled in August when compared to the same month last year, approaching the figure of $1 billion (TL 33.96 billion), according to a report on Tuesday.
The exports from the sector jumped 107.9% year-over-year to $963.4 million last month, data from Turkish Exporters Assembly (TIM) showed.
Accordingly, the sector registered the largest growth in the month.
Meanwhile, the data also revealed that the positive momentum in the jewelry shipments was observed throughout the first eight months.
From January to August, the exports surged by 17.5% compared to the same period last year, reaching $4.71 billion.
Moreover, the robust exports registered last month came after a similar uptick in July, which saw the shipments also increasing by nearly double compared to July 2023 to $948.4 million.
Like this, the sector witnessed two straight months with shipments valued close to $1 billion.
The share of jewelry industry exports in total exports in August was calculated as 4.4%.
Preliminary trade data shared on Monday showed upward momentum in the exports continued as Türkiye shipped goods worth $22.1 billion in August, up 2.4% on an annual basis.
When looking at subgroups in the jewelry sector, the data showed that gold jewelry and its products led with $563.4 million in exports last month, followed by $357.1 million in unprocessed or semi-processed gold.
At the same time, silver exports amounted to $28.1 million, while $6.8 million was generated from unprocessed or semi-processed silver, respectively.
By a large margin, the highest export from the jewelry sector in the month was made to the United Arab Emirates (UAE) with $521.9 million.
The UAE was followed by the U.S. at $67.6 million, Hong Kong at $52.9 million, Iraq at $50.9 million and Kyrgyzstan at $47.3 million.
The United Arab Emirates also topped the list in export growth as the sector’s exports to this country rose by $341.7 million in August compared to the same period last year.
Moreover, the data revealed that Istanbul led the list of provinces with the largest volume of exports from the sector, and was followed by the northern province of Çorum and the capital Ankara.
