GOLD JEWELLERY IN TÜRKİYE

Turkish Gold Jewellery now ranks second in the world trade. Türkiye has a great jewellery tradition. Anatolia is a place where jewellery has been produced for 5,000 years. In fact, gold was refined first in Anatolia and the first coins were minted again in Anatolia.

All of the civilizations which have inhabited Anatolia have produced numerous objects for both religious and artistic purposes. People worked with metals, sometimes including precious and semi-precious stones. The Hittites, Urartians, Phrygians, Ionians, Lydians, Romans, Byzantines, Seljuks and Ottomans all established their rule in Anatolia and created their own jewellery styles.

The most significant style among the different types of jewellery was brought to Anatolia by the Seljuks. Their great influence on the Turkish jewellery tradition is demonstrated by Turkoman jewels which originated in Central Asia. These are still produced and worn in Turkoman tribes. Although they are produced with the simple tools of traditional technology, these objects display exquisite craftsmanship which challenges contemporary technology.

In Istanbul, the jeweller’s art gained importance with the growth and prosperity of the Ottoman Empire. During and after the reign of Suleiman the Magnificent, Istanbul became one of the world’s most prominent centres for jewellery. Historical sources state that jewellery fairs were held in Istanbul during the reign of Suleiman the Magnificent.

Today, the Turkish gold jewellery industry reflects this rich cultural heritage combined with latest technology, outstanding craftsmanship and modern designs. The unique heritage and level of proficiency in the Turkish jewellery sector allow any design to be created and produced at any amount with supreme craftsmanship, excellent finishing, flexible production and immense variety. Türkiye today is fast becoming one of the preferred suppliers for international buyers of gold jewellery.

PRODUCTION

Today, Türkiye is one of the global leaders in gold jewellery production, ranking among the top three countries in the world. Türkiye has the total capacity of producing 400 tons of gold annually. The industry is a significant one amongst the Turkish manufacturing industries and employs about 250,000 people currently.

While there were only one or two workshops with 100-200 people in the ‘90s, there are now many huge factories employing a thousand workers or more. The machine park has been upgraded and a high level of technology has been reached. In the mid-90s, firms started to employ designers, and now most of the world’s largest design teams work in Türkiye.

Currently, major firms can produce 10 new models per day, rolling out 70-80 new products daily including variations. This production flexibility is a great advantage for supplying special design demands of importers. At present, there are about 5,000 producers and 35,000 retail outlets. While Istanbul is the centre, production is also extensive in Ankara, Izmir, and parts of East and South East Anatolia.

Approximately 250-300 tons of jewellery is produced every year. Türkiye annually imports 100-200 tons of gold. Only the Central Bank of Türkiye and members of the Istanbul Gold Exchange with relevant certificates can import gold.

Domestic demand is high as Turkish people buy gold for both adornment and savings. In the 90s, 4-5 thousand tons of gold was believed to be kept in homes, ranking Türkiye second in personal gold investment after India.

Institutional Framework

• Istanbul Gold Exchange (IGE): Established in 1995 to liberalise the sector. It consists of 91 authorised members including banks and precious metals companies.
• Istanbul Gold Refinery (IGR): Started in 2002, producing 999.9/1000 purity gold. It operates in Kuyumcukent with a display center in the Grand Bazaar.

JEWELLERS’ CITY (KUYUMCUKENT)

The world’s largest integrated goldsmith centre is in Istanbul. Inaugurated in 2006, it covers 328,000 square meters with 2,500 production units and shops. The Istanbul Gold Refinery is also located in this complex. Visit Kuyumcukent.

EXPORTS

Today, Türkiye is one of the global leaders in gold jewellery exports, ranking 2nd after Italy. Export restrictions were abolished in 1993, shifting the industry's focus toward global markets.

Exports totaled 1,847 million US Dollars in 2011. Major destinations include the UAE, Iraq, Kazakhstan, Russia, USA, Germany, Italy, and Hong Kong. Turkish gold jewellery was exported to more than 100 countries in 2011. Major companies now establish their own distribution channels in the USA, Europe, and Dubai.

The industry also enjoys large sales to foreigners visiting Türkiye. Exports and tourist sales constitute 70% of the industry’s total output. There were more than 438 export companies by the end of 2011.

TRADE FAIRS IN TÜRKİYE

Five major jewellery fairs are held in Türkiye:

• Antalya Jewellery, Silver and Watch Fair: Held in April.
• Istanbul Int’l Watch, Clock, Jewellery, Machinery and Equipment Fair: Held in February.
• İstanbul Jewellery Show (IJS): Held in March (and October) in İstanbul.
• Izmir JEWEX: Specialized trade fair in Izmir.
• Cukurova Gold and Jewellery Fair: Held in Gaziantep in May.