The Ministry of Industry (Kemenperin) highlighted that Hong Kong remains a significant market for Indonesian jewelry exports, ranking among the top five destinations for these products. According to Reni Yanita, Director General of Small, Medium, and Miscellaneous Industries (IKMA), Hong Kong not only serves as a target market but is also a major global competitor, holding an 11.9% share in global jewelry exports, the third highest in the world. "This presents an opportunity for our assisted SMEs to learn and gain insights into the developments of the jewelry industry here," Reni stated in an official release on Monday, 23 September 2024, in Jakarta. Trademap.org data shows that Indonesia ranks 12th among global jewelry exporters, holding a 2.4% market share, a figure that Kemenperin aims to boost, especially by involving local SMEs to capitalize on the growing export trend.
Kemenperin recorded a significant rise in Indonesia's jewelry and precious goods exports, achieving outstanding performance in 2023. Indonesia's jewelry exports reached USD 5.6 billion or IDR 85.1 trillion, marking a 46.88% increase from USD 3.8 billion or IDR 57.8 trillion in 2022. The export value for January to July 2024 was USD 3.67 billion or IDR 55.8 trillion, representing an 18.66% growth compared to the same period in 2023. Reni stated that this positive trend is encouraging the domestic jewelry industry to continuously innovate and expand its market reach.
