Monday, 21st June 2004 (3010 views)

A new study by the National Institute for Foreign Commerce has revealed that Italian jewellery and gold sales in Russia increased by 32 per cent in 2003 and exports grew by 11.6 per cent.

The report to be presented by workers from the four main gold districts claims that the gold and jewellery market in Russia is being pushed by growing economy and the traditional recognition for Italian products.

However local companies and consumers are keen to ensure products are authentic and will not just accept tags displaying 'Made in Italy', materials and quality must all be verified.

In addition the study shows that low cost pieces tend to be produced internally or are imported by Turkey and China.

According to reports the Russian Federation still carries the marginal role in the overall global market for jewellery production across the world, holding four per cent of the total share.

 

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