Türkiye’s jewelry sector delivered a standout performance in the first quarter of 2025, with exports soaring 72.1% year-on-year to reach $2.5 billion. This surge far outpaces the country’s overall export growth of 2.5% for the same period, highlighting jewelry as a key driver within Türkiye’s export portfolio.

Gold Dominance: Of the $2.5 billion total, jewelers’ gold products accounted for $2.1 billion, underscoring gold’s central role in Türkiye’s jewelry export mix.

Other Segments: Unprocessed or semi-processed gold contributed $347.3 million, while silver jewelry and unprocessed silver added $90.4 million and $31.7 million, respectively. Exports of precious-metal-plated products, cultured pearls, and semi-precious stones, though smaller in value, round out the sector’s diversity.

Price Effect: The sharp rise in gold prices over the past year has significantly inflated export values, benefiting revenue even as volumes may fluctuate.

United Arab Emirates (UAE): The UAE remains Türkiye’s top jewelry export destination, absorbing $1.2 billion—nearly half of total sector exports. This reflects both direct demand and the UAE’s role as a regional trade hub.

Other Major Markets: The United States ($199.5 million), Switzerland ($181.5 million), Hong Kong SAR ($128 million), and Mexico ($92.6 million) are also significant, with notable growth in shipments to Switzerland, Kyrgyzstan, and Libya.

Regional Production Hubs: Istanbul leads with $1.9 billion in exports, followed by Çorum ($646.1 million), demonstrating the sector’s geographic concentration and specialization.

Türkiye’s jewelry export surge in Q1 2025 highlights the sector’s resilience and strategic importance to the national economy. Continued access to raw materials, strong regional partnerships, and the ability to adapt to market trends position Türkiye to maintain its momentum. However, the sector must navigate price volatility and global competition to sustain growth in the coming quarters.

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Türkiye’s jewelry industry has leveraged favorable gold prices, policy adjustments, and robust trade networks to deliver exceptional export growth in early 2025. As global demand and commodity prices remain dynamic, the sector’s agility and focus on high-value markets will be crucial for continued success.

India’s studded gold jewellery exports have shown remarkable growth, more than doubling from $2.7 billion in FY 2020-21 to $6.1 billion in FY 2024-255. This robust expansion stands out against a backdrop of global economic headwinds and a broader decline in India’s overall gem and jewellery exports. The surge reflects shifting consumer preferences, strategic industry adaptation, and the competitive advantage of India’s integrated jewellery manufacturing ecosystem.

• Studded gold jewellery exports grew by 126% over five years, outpacing many other segments5.
• Plain gold jewellery exports also saw a significant 150% rise, indicating broad-based demand5.
• Despite an 11.7% decline in overall gem and jewellery exports in FY 2024-25, studded gold jewellery remained a growth driver35.

Drivers of Growth

1. Rising Gold Prices and Consumer Adaptation

• Skyrocketing gold prices have prompted consumers to shift towards jewellery with less gold content but enhanced visual appeal, such as pieces studded with natural or lab-grown diamonds (LGDs)5.
• Studded jewellery offers a cost-effective alternative, maintaining luxury appeal while managing material costs.

2. Local Manufacturing Ecosystem

• India’s ability to produce both natural and lab-grown diamonds domestically gives manufacturers a pricing edge and supply chain control5.
• The entire LGD process, from growth to setting, is handled in-house, ensuring quality and cost competitiveness.

3. Global Market Dynamics

• Exporters executed over $1 billion in shipments ahead of new US tariffs, showing agility in responding to international trade shifts3.
• While the US and China markets have been sluggish, demand for studded gold jewellery has remained resilient due to its adaptability and design innovation15.

4. Industry Innovation and Craftsmanship

• Indian manufacturers have leveraged design excellence and skilled craftsmanship to cater to evolving global tastes, enhancing the appeal of studded gold jewellery1.

Challenges

• Global Headwinds: The sector faces ongoing challenges from geopolitical tensions, trade sanctions, and competition from affordable lab-grown diamonds in other countries35.
• Decline in Other Segments: While studded gold jewellery exports are up, exports of silver jewellery and lab-grown diamonds have declined sharply, reflecting uneven performance across categories3.
• Tariff Uncertainties: New reciprocal tariffs in major markets like the US could affect future growth, requiring exporters to remain agile3.

Conclusion

India’s studded gold jewellery export boom is a testament to the sector’s ability to innovate and adapt in challenging times. By leveraging domestic strengths and responding quickly to global trends, Indian manufacturers have turned market challenges into growth opportunities, solidifying the country’s position as a global leader in the jewellery trade.

De Beers has unveiled its new flagship boutique in Dubai Mall, marking a significant expansion into the UAE in partnership with Chalhoub Group. Rooted in over a century of diamond expertise, the store showcases the brand’s iconic collections—including Talisman, Enchanted Lotus, and RVL—alongside one-of-a-kind high jewellery pieces. Inspired by nature and blending Southern African heritage with London design, the boutique offers a luxurious, immersive space that celebrates De Beers’ legacy and craftsmanship.

Drawing on diamond expertise stretching back to 1888, the jewellery house marks life’s gradual evolution with meaningful creations. Just as rough diamonds are transformed into exquisite De Beers jewellery, the house honours the heartfelt moments, big and small, that define who we become.

Situated on the ground floor of the prestigious Dubai Mall in downtown Dubai, the new boutique takes design cues from the De Beers flagship on London’s Old Bond Street. Resplendent in the house’s signature shades of blue, white and orange, the furnishings and decorations have been chosen to represent locations close to De Beers’ heart. The boutique is designed to foster connections between clients and Brand Ambassadors, with a combination of open-plan space to explore the collections and intimate private areas. A bespoke lighting system was developed to showcase the fire, life and brilliance of each De Beers diamond.