Jewelers forecast 7% more revenue in 2023 due to increased exports

Given the increased mobility in the world after the pandemic, Jewelers in Mexico expect to increase their income by 7 percent during 2023, mainly through international fairs, said Álvaro Azpeitia Covarrubias, president of the Jalisco Chamber of Jewelry.

In interview with MILLENNIUMthe manager stressed that last year they raised their sales by 5 percent for a greater opening in the national market; however, he recognized that the low movement in other countries limited exports.

“Last year we were able to achieve 100 percent mobility, which helped in the domestic market, but this year we hope to have a greater international presence, because we will be looking for agreements in Italy, Hong Kong, Turkey, India, the United States and Chile” , exposed.

This year they expect a higher demand for gold.  (Photo: Special)
This year they expect a higher demand for gold. (Photo: Special)

Information from the Inegi shows that between January and November of last year 2 thousand 289 kilos of gold were processed for pieces of jewelry in Mexico, 3.2 percent less than that registered in the same period of 2021, which shows the effect of low exports due to the pandemic.

“Yes, definitely not having open borders caused us not to bring the product to the international market, in 2023 we are planning 6 different international efforts (attendance at jewelry fairs) in addition to the four editions of Expo Joya that we do in Mexico City and Guadalajara ”, he exposed.

Just last week the first edition of Expo Joya at the World Trade Center of the capital of the country; Álvaro Azpeitia Covarrubias hopes that during these days of meeting, where they had more than 150 suppliers, they will achieve an increase in contracts and sales.

Last year jewelers increased their sales by 5 percent.  (Photo: Special)
Last year jewelers increased their sales by 5 percent. (Photo: Special)

Regarding the national demand, the president of the Jalisco Chamber of Jewelry explained thate this year they expect a higher demand for gold, mainly for investment, since they consider that it is a better way to make money grow.

“Clearly there is no increase in jewelry pawns, but that responds to the fact that they are clearly looking for long-term investments. When you pawn an electronic item, it is because it loses its value from the moment you buy it and use it, while jewelry (since it is a commodity) can be evaluated in the international market”, he highlighted.


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