Turkey’s jewelry sector is capable of US$ 35 billion turnover with 3 shifts production
Jewelry sector is known to be an important and strategic sector for Turkey due to value added production. Within this scope, experts note the sector can realize a production of jewelry worth US$ 35 billion.
Another important factor is that the sector also provides employment for 250 thousand people with its 35 thousand retailers, 6 thousand manufacturers and 2 refineries with international standards,
Experts say Turkey is known to be one of the world’s 5 largest markets together with India, Russia, America and China. The countries with largest exports from production are China, Italy and Turkey.
Turkey which has a strong position in the world increased its exports by 35 percent reaching US$ 4.5 billion in 2017 and 2018 period. Turkey targets to reach US$ 6 billion at the end of 2019. Its target for 2023 is US$ 12 billion.
It is reported that Turkey has an annual production processing capacity of US$ 11-12 billion dollars.
The country exports US$ 4.5 billion dollars of this figure directly, US$ 3.5 billion dollars of this amount come from tourism exports and US$ 3 billion dollars are sold in the domestic market. It is also noted that the sector can realize an average production of $ 35 billion if it starts 3 shift production at full capacity.
It also noted that the sector can increase its exports to the USA from US$ 300 million to US$ 3.5 billion.