According to Italy’s trade agency, export of Italian jewellery to the UAE grew by 21 per cent in 2022.
The country is showcasing products made at the ‘Jewellery, Gem & Technology Dubai’, which is running at Dubai World Trade Centre until February 14.
66 jewellery ateliers will present the ‘Made in Italy’ jewellery.
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 per cent 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 per cent 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.”
Amedeo Scarpa, director of the Italian Trade Agency 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 per cent 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.”
A statement added that the Italian jewellery sector is committed to responsible sourcing and is seeking to reduce waste and carbon footprint, embracing sustainability, ethics and transparency.
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 per cent in the second quarter of 2022 to 13.2 tonnes, the highest in the GCC. The UAE gems and jewellery market is expected to reach USD 10.71 billion by 2027, growing at an annual rate of 6.53 per cent.