Gold jewellery exports to rise in Malaysia

This year is predicted to be a fruitful one for jewellers in Malaysia after the Malaysia External Trade Development Council (Matrade) estimated that exports of gold jewellery would rise by half.

Last year witnessed 92 per cent growth in the export of gold jewellery out of Malaysia to RM60 million (£8.7 million) and outweighed imports by over three to one.

Deputy chief executive officer of promotion at Matrade Wong Lai Sum said that it was plain gold jewellery that was attracting most of the interest in the market as a whole and he added that the country was "among the prominent players".

Mr Lai Sum stated: "We have been growing an average of 50 per cent year-on-year over the last five years. We expect this year to remain the same, if not more."

The largest importer of Malaysian gold jewellery is the United Arab Emirates with 71 per cent, followed by Singapore.

Matrade is going to support Malaysian jewellers who will be exhibiting at next month's Hong Kong International Jewellery Show which saw just under 2,000 exhibitors last year.