HKTDC conducted surveys with more than 700 buyers and exhibitors at the Hong Kong International Jewellery Show 2024 and the Hong Kong International Diamond, Gem and Pearl Show 2024. The survey results suggest jewellery traders are more optimistic on the industry outlook this year.

DV Riziya, Chief Operating Officer of H K Designs, a New York diamond jewellery manufacturer, assesses advances in the lab-grown jewel field.

Aayush Jain, Director of Gemdiam, a Hong Kong-based diamond supplier, assesses the latest market trends and sourcing challenges.

In 2023, Hong Kong exports of fine jewellery were up 23%. On the other hand, exports of pearls, gemstones and rough diamonds, exports of imitation jewellery were down 8% and 1%, respectively.

India’s Directorate General of Foreign Trade (DGFT) has issued restrictions on the import of certain gold jewellery and articles. In Notification 19/2023 issued on 12 July 2023, the authority said the import of certain gold jewellery and articles under HS codes 71131911, 71131919 and 71141910 has been changed from “free” to “restricted” with immediate effect. Importers now require a government permit to bring in such products to India.

HKTDC conducted a survey of more than 700 buyers and exhibitors at the Hong Kong International Jewellery Show 2023 and the Hong Kong International Diamond, Gem and Pearl Show 2023. The survey results suggest jewellery traders are more optimistic about the industry’s outlook this year as several Covid-related challenges finally come to an end.

The success of the recent China International Jewellery Fair marks an uptick in confidence among the mainland’s gold and gem traders.

The European Chemicals Agency (ECHA) has reported that its Enforcement Forum has decided upon its next REACH enforcement project. The Forum is to investigate how companies fulfil the registration, authorisation and restriction obligations for products and chemicals that they import from outside the EU. The project is to be carried out in 2023-2025 and will require close cooperation between the Member States’ REACH enforcement and national customs authorities.

Saudi Arabia has recently announced its Technical Regulation for ornaments and accessories. The provisions will become effective on March 22, 2023.

While a sense of playing it safe persisted, participants at two recent Hong Kong events – the 38th HKTDC Hong Kong International Jewellery Show and the 8th HKTDC Hong Kong International Diamond, Gem & Pearl Show – were confident that a post-pandemic reboot was afoot.