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Home » Cambodia’s Jewellery Exports Surge to $851 Million in 2023; Upcoming Exhibition Highlights Industry Growth

Cambodia’s Jewellery Exports Surge to $851 Million in 2023; Upcoming Exhibition Highlights Industry Growth

by Surya Narayan
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In a remarkable achievement, Cambodia’s jewellery exports reached an impressive $851 million in 2023, marking a remarkable 261% increase compared to the previous year, according to the Ministry of Commerce. This surge in export value was celebrated during a press conference on January 22, announcing the 15th Cambodia International Jewellery and Gems Exhibition scheduled to take place in Phnom Penh later this year.

Tan Tepi Kanika, the Ministry’s undersecretary of state, emphasized that this exponential growth is a testament to the successful collaboration between the government, private sector, and the Cambodian Gems and Jewellery Traders Association (CGJTA).

Chhay Sinath, acting president of the CGJTA, highlighted the significance of the upcoming exhibition, set to run from March 21 to March 25. He emphasized that it will serve as a crucial platform to showcase Cambodia’s potential in the jewellery and gem sector, shedding light on the growth and design of contemporary Cambodian jewellery.

Sinath also pointed out that the event presents a golden opportunity for Cambodian traders and jewellery designers to connect and collaborate with foreign partners, fostering the growth of their businesses.

Hong Vanak, the Director of International Economics at the Royal Academy of Cambodia, acknowledged Cambodia’s rich history in crafting jewellery, precious gems, and art objects from wood and stone. While the export value of these items witnessed a significant upswing in 2023 compared to 2022, Vanak clarified that this does not necessarily indicate an abundance of raw materials like gold and gems within the country. Instead, most of these products are imported for processing before being exported.

Vanak highlighted the pride that Cambodia can take in its growing jewellery exports, which not only showcase its heritage and ancestral sculptures but also influence new fashion trends.

Despite the considerable annual expenditure on importing gold and precious stones for processing, Vanak expressed optimism regarding the future growth of exports.

The Ministry of Mines and Energy reported that Cambodia had produced nearly 9 tonnes of gold since its first production in June 2021 until mid-November 2023. Energy Minister Keo Rattanak announced during the “Mining and Energy Policy in Cambodia” forum in November that six companies were refining gold in various provinces, contributing significantly to the national budget. By November, Cambodia had produced approximately 1,040 bars of gold, generating over $14.4 million in royalties for the government.

This remarkable growth in Cambodia’s jewellery and gem sector and the upcoming exhibition underline the nation’s potential as a prominent player in the global jewellery industry, while also creating opportunities for collaboration and showcasing its rich cultural heritage.

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