Turkish Jewelry Industry Gaining Ground
January 10, 07
As Turkey’s trade with the European Union grows, so does its jewelry industry. In 2006, the industry exported $1.17 billion worth of products, according to the Turkey’s National Center for Productivity. The Antwerp Facets News Service wrote that this statistic “makes Turkey second only to Italy within the EU in jewelry.”
The Turkish jewelry industry is also the most productive in the country in terms of capital efficiency, the National Center reported. This conclusion was based on an analysis of data from the past 26 years.
The Center said the Turkish jewelry industry has made good progress over the past five years and will gain increasing market share in other EU countries.
According to statistics from the Turkish Association of Jewellers (TAJ), jewelry exports in 2005 totaled approximately $1 billion. In terms of the volume exported, the EU was Turkey’s biggest client. In terms of price, the North American market purchased the most jewelry from Turkey.