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Dok/Kemenperin
Kemenperin Is Actively Working To Expand The Market For Jewelry SMEs, With Exports Exceeding $5 Billion
Wednesday, 25 Sep 2024
The domestic
jewelry industry is shining bright, especially when it comes to breaking into
international markets. According to the Ministry of Industry, in 2023, jewelry
and precious goods exports hit a whopping USD 5.6 billion, marking a 46.88%
increase from USD 3.8 billion in 2022.
Looking at the
first half of 2024, exports from January to July reached USD 3.67 billion,
which is an 18.66% jump compared to the same period in 2023. “This positive
trend is definitely a motivator for local jewelry players to keep innovating
and expanding their market reach,” said Reni Yanita, the Director General of
Small, Medium, and Miscellaneous Industries (IKMA), during a statement in
Jakarta on September 21.
Reni emphasized
that they are actively working to make it easier for jewelry industry players,
especially small and medium enterprises (IKM), to access broader markets. One
of the initiatives includes facilitating participation in the International
Jewelry and Gem World (JGW) in Hong Kong, scheduled for September 18-22, 2024,
at the Hong Kong Convention & Exhibition Centre (HKCEC).
“The goal of
participating in the JGW exhibition is to provide market access for local
jewelry businesses, particularly those that are still small and medium-sized,”
she explained. This event will also help IKM jewelry players expand their
business networks, as many potential buyers from around the globe will be
attending.
“We see Hong
Kong as a key export destination for jewelry, ranking among the top five
countries for Indonesian jewelry exports,” Reni added. Besides being a target
market, Hong Kong is also a major competitor, holding 11.9% of the global
jewelry export market share, making it the third highest in the world.
This can be a
great opportunity for our supported IKM players to learn a lot and gather
insights about the jewelry industry developments here, Reni added.
Additionally,
the JGW Hong Kong exhibition serves as a platform connecting jewelry suppliers
and customers from all over the globe. Participants at the JGW Hong Kong
exhibition are categorized into various product groups, including diamonds,
gemstones, pearls, gold and silver jewelry, precious metals, as well as
machinery and technology for the jewelry industry.
“We are
optimistic that with our natural resource potential, skilled artisans,
designers, and improved product quality, along with support from various
parties in terms of guidance and promotion, the domestic jewelry industry can
continue to grow and expand its market internationally,” she explained.
The Director
General of IKMA mentioned that according to data from Trademap.org, Indonesia
ranks 12th among the largest jewelry exporting countries in the world, holding
a market share of 2.4 percent. “We need to keep pushing this number and
maximize it, and we must involve IKM players to ensure they also benefit from
the positive trends in domestic jewelry export growth,” he emphasized.
Alexandra Arri
Cahyani, the Director of Various Industries and Chemical, Textile, and Craft
IKM, shared that the Ditjen IKMA is facilitating six supported jewelry IKM in
this event. They have gone through several stages of curation and mentoring.
“After the registration and curation process, six IKM were selected to
participate in the JGW Hong Kong exhibition, including Ellyhan Jewelry from
Jakarta, Nadha Jewelry from Jakarta, D-Natiqa Pearls & Jewels from West
Java, Borobudur Silver from Yogyakarta, Ottilia Pearls from NTB, and Mutiara
Lombok Waidah from NTB,” Alexandra revealed.
The curation
process involved various stakeholders, from academics to business
practitioners.
