Jewelry exports from Israel exceeded the $400 million level, reaching $410 million in 2007. This constitutes a 5% increase in comparison to 2006, when jewelry exports came to $390 million.
Exports of non-embedded gold jewelry came to $176 million, constituting 43% of all jewelry exports. The export of jewelry embedded with diamonds and gemstones came to $154 million, constituting 37% of all jewelry exports. This constitutes a 17% increase in the export volume of embedded jewelry. Fashion jewelry exports came to $52 million and silver jewelry came to $28 million.
The main destinations for gold jewelry were the US, England, Russia, Hong Kong and Canada. The main target countries for embedded jewelry were the US, England, Switzerland, Hong Kong, Belgium, Russia and Spain.
The main destinations for silver jewelry were the US, England, Canada, France and Switzerland. Fashion jewelry went most to the US, England, Japan, Canada, Australia, Italy and Spain.
The jewelry industry has been affected by the soaring gold prices over a prolonged period. The gold component as raw material in jewelry constitutes a high percentage, particularly in gold and embedded gold jewelry, which makes up 80% of the jewelry exports.
Fifteen companies exported over $5 million worth of merchandise in 2007. Half of the companies manufacture diamond and gemstone embedded jewelry. Five companies in the area of gold jewelry exported over $15 million worth of merchandise.
Sigal Shidlovsky, Director of the Jewelry Division in the Ministry of Industry, Trade and Labor, reports that the JOVELLA 2008 trade show will take place on July 1-3 at the Tel Aviv Fairgrounds. This year, the show will be sponsored by the Ministry of Industry, Trade and Labor, the Israel Jewelry Manufacturers’ Association, the Israel Export Institute and the Israel Diamond Institute. The Exhibition is expected to be attended by buyers from overseas and trade media representatives who will be invited by the organizers and sponsors.
