Singapore is the Second Largest Country for Indonesian Jewelry Export

Jakarta – The trade minister with the Embassy of the Republic of Indonesia Singapore and Bank Indonesia presented the Indonesian Pavilion with nine micro, small and medium enterprises (MSMEs) at the Singapore International Jewelry Expo 2023 exhibition on July 13-16, 2023.

Director General of National Export Development at the ministry, Didi Sumedi said that jewelry has become one of Indonesia's strategic commodities that hold significant contribution in bringing surplus in Indonesian exports in the past two years.

In the previous year, jewelry exports recorded a total value of US$6.3 billion, an increase by 7.12 percent as compared to the previous year, he remarked. 

"Of that export value, more than 20.4 percent is exported to Singapore, which makes Singapore the second-largest destination country for Indonesian jewelry," he explained.

Sumedi said that the potential of such positive trend must be tapped into for improving the performance of jewelry exports in future.

Meanwhile, Indonesian Ambassador to Singapore Suryo Pratomo stated that for the past few years, Indonesia had successfully established a comprehensive industrial products' export roadmap, which highlights the downstreaming policy as its driving force.

According to Pratomo, Singapore is the second largest destination of Indonesian jewelry export and it becomes the most important partner on the regional scale in terms of jewelry.

"One of the main products resulting from the policy is jewelry, and Singapore is the most important partner of Indonesia on the regional scale in terms of jewelry products," he added.