The trade balance for jewelry and valuables also recorded a surplus of US$3 billion.
"The main destination countries for jewelry exports from Indonesia include Singapore, the United States, Switzerland, Jordan, and the United Arab Emirates," the ministry's director general of small, medium, and miscellaneous industries, Reni Yanita, according to a statement released on Friday.
She made the statement at the opening of the 2023 Surabaya International Jewelry Fair (SIJF) in Surabaya, East Java, on Thursday. The 2023 SIJF, which is being held from September 28–October 1, has been organized by the Indonesia Association of Goldsmiths and Jewelers (APEPI).
According to Yanita, the export market share of Indonesia's jewelry and valuables reached 1.6 percent in 2022, with the nation ranking 17th among countries exporting jewelry products and valuables.
"The market share rose from the previous year, which only reached 1.2 percent. This shows that Indonesia's jewelry industry still has the opportunity to continue to grow and develop in increasing its market share," she added.
She further said that, amid the era of globalization and technological development as well as competition that is getting stronger, the Industry Ministry is currently focusing on boosting the performance of industries, including the jewelry industry.
"As one of the industrial sectors that serve as the mainstay of the national economy, the jewelry industry is also required to have added value and high competitiveness," she added.
She then expressed her appreciation for APEPI, which has been continuously holding jewelry exhibitions, both at the national and international levels.
"Organizing this exhibition is an effort to expand marketing access for jewelry products, which will hopefully support the growth of the domestic jewelry industry," she said.
She expressed the hope that the exhibition would become a platform to build strong business networks, share knowledge, and promote Indonesia's jewelry products internationally.
Translator: Ade Irma, Raka Adji
Editor: Azis Kurmala
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