Jewellery sales in China have exceeded market expectations by increasing by $2.9 billion each year since 2005, a new report has revealed.

China's jewellery market was worth $25.9 billion in 2007, according to the statistics from Research and Markets.

Gold and silver jewellery have kept good momentum and the value of import and export of China's jewellery products last year reached $14.2 billion.

Meanwhile, India is also seeing rapid growth in its jewellery market that is being fuelled by the country's buoyant economy.

According to the Gem & Jewellery Export Promotion Council (GJEPC), consumption of jewellery in India has grown at a rate of 15 to 20 per cent per year.

Speaking to Jewellery News Asia, Sanjay Kothari, Chairman of the organisation, said that the growth is likely to continue because of a strong economy and big demand for diamond jewellery.

But Jugal Choksi, Company Executive of CVM Exports in Gujarat, also noted a demand for a lighter gold content.

"Today's trend is leaning towards jewellery with a lighter weight of gold to lower the prices," he explained.

Source:

China's jewellery sales exceed expectations, 29/05/08
http://www.jewellerynetasia.com/industry/newsdetails.aspx?lang=0&vortalid=1&newsidinvortal=8373&ct=&cn=NewsAll&m=05&y=2008&ch=0

India's jewellery market poised for rapid growth, 22/05/08
http://www.jewellerynetasia.com/industry/newsdetails.aspx?lang=0&vortalid=1&newsidinvortal=8334&ct=&cn=NewsAll&m=05&y=2008&ch=0