9 March 2007
Optimistic Outlook for the Hong Kong Jewellery Industry
International Jewellery Survey Sees Continued Export Growth
March 9, 2007 - Hong Kong jewellery exports this year will continue to grow, boosted largely by the dynamic Asian market, and led by the Chinese mainland, according to an industry survey conducted during the Hong Kong International Jewellery Show. The show opened March 6 and closes tomorrow.
Exports to Asia-Pacific markets this year are expected to increase, according to 63 per cent of the survey respondents. Turning to the United States, 56 per cent of the respondents felt that jewellery exports there would better the 2006 totals. As for the European Union, survey results indicate a stable market this year.
The survey, conducted by Oracle Market Research, was commissioned by the Hong Kong Trade Development Council (TDC). In all, 420 exhibitors and 743 buyers were interviewed at the jewellery show.
The overall market outlook is optimistic. Half the surveyed respondents indicated that they would increase their orders, as well as the quantity per order, an average of 13 per cent. Average unit sourcing price is expected to increase by 12 per cent in 2007.
Buyers said design, craftsmanship and pricing were Hong Kong suppliers' top three competitive edges. More than 70 per cent of buyers indicated strong interest in sourcing from Hong Kong over the coming three years.
Other survey findings include:
Trends: the growth potential of rings is high. When it comes to jewellery sets, rings and earrings, as well as necklaces and earrings, were selected as the two most popular categories.
Materials: Given the rise in the price of gold, karat gold is likely to become more popular this year. White gold was voted the most popular material, followed by yellow and silver gold.
Diamonds: diamonds stand out as the most appealing precious stone, followed by pearls. More buyers appreciate micro-settings, while the majority still favour prong settings.
Style: Classic and antique designs tend to be more favoured in the Asia Pacific.
Hong Kong is the world's fourth-largest exporter of fine jewellery after Italy, the US and India. In 2006, exports of fine jewellery amounted HK$29 billion, representing a robust growth of 13 per cent.
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Established in 1966, the Hong Kong Trade Development Council (TDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 offices worldwide, including 11 in the Chinese mainland, the TDC promotes Hong Kong as a platform for doing business with China and Asia. The TDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and the mainland, while providing information via trade publications, research reports and online. For more information, visit www.tdctrade.com
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