Export of Italian jewellery to the UAE grew by 21% in 2022
Photo used for illustrative purpose.
Gathered in Sheikh Saeed Hall 1-3 within the Italian Pavilion, the 66 Italian manufacturers will connect with new and established clients and distributors at the Italian Jewellery Lounge; organised by the Italian Trade Agency, the Governmental Agency that promotes “Made In Italy” across the world according to the guidelines of the Ministry of Foreign Affairs, the Italian Lounge will welcome exhibitors and visitors in a comfortable setting and will provide a relaxed and informal environment to discuss business.
The Middle East continues to rank among the world’s leading luxury markets and, within the region, the UAE represents one of the most important markets in the region. According to the latest data from the World Gold Council (WGC), the demand for gold jewellery in the UAE surged by 80% in the second quarter of 2022 to 13.2 tonnes, the highest in the GCC. The UAE gems & jewellery market is expected to reach $10.71 billion by 2027, growing at an annual rate of 6.53%.
The gold and silver jewellery sector in value is one of the most important manufacturing sectors of the Italian economy, as well as one of the most export-oriented, with over 85% of turnover coming from foreign markets. The Italian style and creativity, the skill of the craftsmen, the accuracy of the workmanship and the originality of the products, make “Made in Italy” jewellery pieces stand out. The demand for Italian jewellery from UAE customers keeps growing and Italy now ranks as the third global supplier to the UAE (after India and Turkey) with 11% of the market share.
Lorenzo Fanara, Ambassador of Italy to the UAE, said: “Made in Italy” is synonymous with quality, reliability but also beauty and elegance. The production of gold and silver jewellery is one of the main niches in the Italian economy. It’s also one of its most export-oriented sectors: as much as 85% of the turnover comes from foreign markets. This value has certainly been recognised in the UAE, which made Italy the country’s third largest global supplier with 11% of the market share. In a country where the demand for luxury goods is constantly growing, the Jewellery Gem & Technology Dubai is a perfect opportunity to strengthen the already strong trade bond in the sector.
Commenting on the strategic role of the Italian Trade Agency in supporting the trade relationship of the Italian companies in the UAE, Amedeo Scarpa, Director of ITA office in the UAE said, “The success of “Made in Italy” jewellery is driven by the sales across the border that reached to 5.8 billion euros in 2022, an increase by 29.7% from 2021.
The UAE is the third destination market for Italian jewellery creations and with 914 million euros exported at October 2022, jewellery represents the most important product exported by Italy to this country. After a successful 2022 launch edition, we are glad to return to JGT with an ITA Lounge that will facilitate connections and interactions between Italian exhibitors and international buyers who are sourcing jewellery, gemstones and related technologies.”
The Italian jewellery sector is committed to responsible sourcing and is seeking to reduce waste and carbon footprint, embracing sustainability, ethics and transparency.
Under the slogan “Sustainability is SustainabITALY” the environmental, economic and social sustainability of the Italian products are keeping the Made in Italy reputation strong and innovative. The Italian exhibitors at JGT are in Sheikh Saeed Halls showcasing jewellery creations as well the most advanced technological solutions and machinery for the industry.
The Italian Trade Agency is the Government agency which promotes the globalization of Italian firms, under the aegis of the Ministry of Foreign Affairs.
ITA helps to develop, facilitate and promote Italian economic and trade relations with foreign countries, focusing on the needs of SMEs, their associations and partnerships.
ITA sustains Italian firms in their internationalization process, promoting the marketing of Italian goods and services as well as the image of “Made in Italy” products around the world, while facilitating outward Italian investments and encouraging FDI attraction into Italy.
ITA provides information, support and consultancy services to Italian companies on foreign markets, in order to foster exports and economic cooperation in all sectors, with the objective of increasing the effectiveness of their presence on international markets. ITA works closely with the Italian Regions, the network of Italian Chambers of Commerce, business organizations and other public and private entities. ITA’s headquarters are based in Rome and it works through a large network of offices around the world which are acknowledged as “Trade Promotion Offices” of the Embassies or Consulates of Italy.
