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Global Silver Jewelry Fabrication Reaches an All Time High
May 23, 2014 10:29 AM
By Jeff Miller
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RAPAPORT...The recently released Silver Institute 2014 World Silver Survey concluded that global silver jewelry fabrication rose 10 percent year on year to 198.8 million ounces, representing a record high. The report cited stronger economic conditions this past year across the industrialized world, which lifted consumer sentiment and in turn boosted retail sales of silver jewelry products.
Silver jewelry fabrication in India in 2013 increased by an estimated 29 percent year on year, according to the Silver Promotion Service. China's demand registered double-digit rates of growth, setting a new record, while North America’s silver jewelry manufacturers produced 22.8 million ounces, representing an increase of 11 percent.
Michael Barlerin, the director of the Silver Institute | Silver Promotion Service, said, “The World Silver Survey is an invaluable source of information for any entity involved in the silver jewelry sector. While the focus of the Silver Promotion Service is on enhancing the image of silver jewelry and stimulating demand in key international markets, the depth of information available on fabrication will be important for planning future initiatives. The survey is an excellent complement to the annual U.S. National Jeweler Retail Sales research we conduct in the U.S.”
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Tags:
China, fabrication, India, Jeff Miller, Jewelry, promotion service, silver, u.s.
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