Jalisco’s jewelry industry foresees growth of 4% in 2022

Guadalajara, Jal. Because it is a sector that allows self-employment, since metals are used as investment and savings, the jewelry industry of Jalisco will close 2021 with a growth of 2%, and projects for next year to grow 4 percent.

“Consumers have continued looking for the jewelry product either to be self-employed, to restock their jewelry stores, and we are now in the Christmas season in which merchants increase their jewelry sales by up to 15%,” he told El Economista, the President of the Regional Chamber of the Jewelry and Silver Industry of the State of Jalisco (CRIJPEJ), Álvaro Azpeitia.

He indicated that the positive projections for next year are due to the economic reactivation that has had a favorable impact on both the domestic market and exports.

“Right now, customers are looking a lot for precious metals also as a form of savings or investment and for now, our supply is outpaced by demand; we are working at forced marches in our production ”, said the industry leader.

New markets

The sector leader stressed that, due to its proximity and the international treaties it has with Mexico, U.S it remains the main international market for the jewelery sector, although the manufacturers of the sector also bet on Latin American countries and those of the Middle East.

“The United States is a foreign client with whom we do business almost every month of the year; above all, supported by the international exhibition of JCK Las Vegas, where we go with the Mexican pavilion to be able to show our products ”, indicated Azpeitia Covarrubias.

He commented that they are currently seeking to grow their presence in Europe, Asia, the Middle East and Latin America, for which, businessmen from the industry participate in international exhibitions in Vicenza, Italy in January and September, and in Hong Kong. which takes place in August.

“What we are looking for is to turn to the bottom of our continent; that is to say, turn to see Panama, Colombia and seek to make commercial tours to these countries, ”said the president of CRIJPEJ.

Currently, the state of Jalisco It is a national leader in the sector since it participates with 70% of the country’s jewelry production. According to the chamber, 70 tons of silver and 20 tons of gold are processed annually.

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