Export of jewelry products, as well as gold and silver products from Hong Kong decreased by 5.4% to $ 28.72 billion in 2014 compared to $ 30.35 billion a year earlier, the census and statistics bureau reports. Exports in this sector reached $ 26.1 billion in the first 11 months of last year, a decrease of 6.3% compared with the same period in 2013.
However, in December last year, jewelry exports increased by 4.4% to $ 2.6 billion.
The Hong Kong Trade Development Council (HKTDC) recently announced an observable increase in demand for jewelry in 2015 , as the world economy begins to stabilize, but the change in prices for raw materials can affect Hong Kong jewelry exports.
The demand for jewelry "will increase as the factors that constrain the development of the world economy disappear," says Nicholas Kwan, director of research at HKTDC.
Most likely, jewelry exporters of Hong Kong will be able to conclude some contracts in 2015, but they "have to deal with unstable prices for precious metals and stones," Kwon said in a press release.
It is expected that the volume of exports from Hong Kong will increase by 3% this year, he added.