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Turkey Targets $10 Billion in Jewelry Exports for 2023 Despite Earthquake Setback April 24, 2023 (0 comments)


Ankara, Türkiye--Despite challenges from the devastating earthquakes in southern Türkiye this past February, the nation's jewelry sector plans to surpass $10 billion in exports for 2023. 

[Image via Flickr Commons]

Burak Yakin, chairman of the Turkish Jewellery Exporters' Union (MIB), expressed confidence in the industry's recovery and continued growth in a recent interview with Xinhua.

Data from the Turkish Statistical Institute revealed a significant increase in Türkiye's jewelry exports over the past decade, accounting for 1.5% of all Turkish exports in 2022. With over 300 tons of gold crafted into exquisite jewelry pieces annually, MIB statistics emphasize the industry's strength.

In the Xinhua report, Yakin highlighted that the Turkish jewelry industry ranks among the top three globally in gold and silver refinery technology and production capacity.

Per the report, Türkiye is the second-largest gold jewelry exporter after Italy and the third-largest consumer of gold behind India and the U.S. The sector supports over 250,000 jobs within the country, as the Ministry of Trade data indicates.

The ambitious $10 billion export target for 2023 signals Türkiye's determination to overcome the earthquake's impact and continue driving growth in the jewelry industry.

Learn more about it in the interview on Xinhua.

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