The unique designs and motifs created by domestic jewelry producers are one of the draws for buyers, she explained. In addition, they can also increase jewelry exports.
According to Trade Map data, Indonesia has recorded an increase in jewelry exports compared to 2023, when it was the 12th-largest jewelry exporter in the world with a market share of 2.4 percent.
Referring to the data, she said that domestic jewelry manufacturers can see the big opportunity to increase exports.
"The largest export destination countries are the United States, India, Hong Kong, China, and also Switzerland," she added.
As per the ministry's Data Center, the value of jewelry exports reached US$3.94 million (US$1 = Rp15,655) in the period from January to August 2024.
"This achievement shows a cumulative increase of 15.98 percent compared to the same period in January to August 2023, which was US$3.4 million," she said.
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According to Yanita, the increase in jewelry exports is a welcome development amid current global conditions, especially with the price of gold continuing to increase.
"All of this can be achieved thanks to good cooperation from various parties. That way, the jewelry industry has the potential to continue to grow in Indonesia," she explained.
Besides making jewelry, gold, as a precious metal, can be used as an investment medium that has high value and is profitable for the community, especially in terms of resale value, she said.
"The increase in gold prices also drives an increase in demand for precious metals. So, if the purchase of jewelry goes up, people also want to increase their investment in precious metals," she added.
Therefore, the government has lauded the Surabaya International Jewellery Fair as an important event for jewelry and precious metal industry producers to introduce the latest products as well as increase market share and product sales.
"We hope that Surabaya International Jewellery 2024 can also become a new standard for jewelry exhibitions in Indonesia, even in the international class, because it is always awaited both by domestic and foreign visitors," she said.
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Translator: Indra Setiawan, Naufal Ammar Imaduddin, Yashinta D
Editor: Yuni Arisandy Sinaga
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