Gold jewelry exports from Malaysia rise 13%

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Malaysia goldThe value of gold jewellery exported from Malaysia in 2013 is likely to rise by about 13 per cent to hit $1.56 billion, compared with $1.47 billion in 2012., according to the Penang Goldsmith Association, StarBiz reported.

The softening of gold prices has contributed to the increase in overseas sales. Top buyers included UAE, Hong Kong and India. In the period from January to August 2013, buyers from the UAE purchased $1.09 billion worth of gold jewellery from Malaysia compared to $888 million in the same period of 2012. Hong Kong and India purchased $42 million and $5 million in the period.

However, there was a slight drop in the domestic sales of gold jewellery, despite the plunge in gold prices, due to softening purchasing power, the association said.

According to a Matrade report, from January to August 2013, Malaysia imported $196.5 million worth of gold jewellery, compared to $168 million in the same period of 2012.

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Reading Time: 1 minute

The value of gold jewellery exported from Malaysia in 2013 is likely to rise by about 13 per cent to hit $1.56 billion, compared with $1.47 billion in 2012., according to the Penang Goldsmith Association, StarBiz reported.

Reading Time: 1 minute

Malaysia goldThe value of gold jewellery exported from Malaysia in 2013 is likely to rise by about 13 per cent to hit $1.56 billion, compared with $1.47 billion in 2012., according to the Penang Goldsmith Association, StarBiz reported.

The softening of gold prices has contributed to the increase in overseas sales. Top buyers included UAE, Hong Kong and India. In the period from January to August 2013, buyers from the UAE purchased $1.09 billion worth of gold jewellery from Malaysia compared to $888 million in the same period of 2012. Hong Kong and India purchased $42 million and $5 million in the period.

However, there was a slight drop in the domestic sales of gold jewellery, despite the plunge in gold prices, due to softening purchasing power, the association said.

According to a Matrade report, from January to August 2013, Malaysia imported $196.5 million worth of gold jewellery, compared to $168 million in the same period of 2012.

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