2025 Indonesia Jewelry (HS 7113) Export: Price Surge

Key Takeaways

Jewelry, classified under HS Code 7113 (Jewelry, gold and silverware and other products), exhibited pronounced volatility from January to September 2025.

• Market Pulse: Unit prices surged 65% in May and another 25% in September, driving export value up 246% and 100%, respectively, despite fluctuating volumes.
• Structural Shift: Indonesia Jewelry Export reliance on Switzerland (53.43% of value) creates high geographic risk, with Singapore and the UAE as secondary but smaller markets.
• Product Logic: HS Code 7113 trade data reveals a bifurcated market—94% of exports are high-value precious metal jewelry (excluding silver), with a smaller premium segment commanding 108 USD per unit.

This overview covers the period from January to September 2025 and is based on verified customs data from the yTrade database.

Indonesia Jewelry (HS Code 7113) Key Metrics Trend

Market Trend Summary

The Indonesia Jewelry Export trend under HS Code 7113 showed pronounced volatility from January to September 2025, characterized by two distinct surges. After a stable start, unit prices jumped 65% in May to $76,439/kg, driving a 246% value increase to $934M. The trend stabilized briefly before another sharp uptick in September, where prices rose 25% to $88,934/kg and export value doubled to $1.55B. Overall, the period reflected a shift toward higher-value exports despite fluctuating volumes.

Drivers & Industry Context

The May price surge aligns directly with India’s imposition of import restrictions on HS 7113 jewelry until April 2026 [A2ZTaxCorp], which diverted luxury demand to Indonesian exporters. This policy shift amplified the hs code 7113 value, as Indonesia capitalized on its specialization in high-margin categories like precious metal jewelry (excluding silver), which comprised over 95% of export value [yTrade]. The September rebound was further supported by India’s reduced customs duties on HS 7113 (from 25% to 20%) [HKTDC Research], sustaining competitive momentum for Indonesian goods in key markets like Switzerland and the UAE. No domestic export policies disrupted this momentum, allowing Indonesia to leverage global trade shifts.

Table: Indonesia Jewelry Export Trend (Source: yTrade)

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Indonesia HS Code 7113 Export Breakdown

Market Composition & Top Categories

Indonesia's HS Code 7113 export market is overwhelmingly dominated by jewelry made from precious metals excluding silver, which accounts for 94% of the total export value. According to yTrade data, this single category generated over 6.1 billion USD in the first three quarters of 2025. The remaining exports consist of lower-value silver jewelry and minimal volumes of base metal jewelry clad with precious metals.

Value Chain & Strategic Insights

The market exhibits a clear value split: high-volume precious metal jewelry trades at 79 USD per unit, while a smaller premium segment commands 108 USD per unit. This Indonesia HS Code 7113 breakdown reveals a hybrid trade structure—primarily commodity-driven with bulk volumes, but with a specialized niche for higher-margin products. Exporters should prioritize volume efficiency for the mass market while developing distinct quality attributes to access the premium segment.

Table: Indonesia HS Code 7113) Export Breakdown Details (Source: yTrade)

Check Detailed HS Code 7113 Breakdown

Indonesia Jewelry Destination Countries

Geographic Concentration & Market Risk

Indonesia's jewelry exports in the first three quarters of 2025 show extreme dependence on Switzerland, which captured over half (53.43%) of the total export value. This single-market concentration creates significant exposure to any economic or regulatory shifts affecting Swiss demand. The next largest Indonesia Jewelry export destinations, Singapore and the UAE, combined account for just 25% of the value, underscoring the high market risk from this lopsided reliance.

Purchasing Behavior & Demand Segmentation

Switzerland’s high value-to-weight ratio (53.43 vs. 32.86) confirms its role as a premium market for high-margin, quality-conscious demand. In contrast, trade partners like the UAE and Jordan show a commodity profile, with high quantity but lower value ratios, indicating price-sensitive bulk shipments. The high-frequency, lower-value shipments to the US and Thailand point to a fragmented, high-turnover retail segment. This split reveals Indonesia’s jewelry exports must navigate between high-margin Swiss orders and high-volume, lower-margin business elsewhere.

Table: Indonesia Jewelry (HS Code 7113) Top Destination Countries (Source: yTrade)

Get Indonesia Jewelry (HS Code 7113) Complete Destination Countries Profile

Indonesia Jewelry Buyer Companies Analysis

Buyer Concentration & Market Structure

According to yTrade data, Indonesia's Jewelry export market is overwhelmingly dominated by a core group of key accounts. These high-volume repeat buyers, representing companies like INTERNATIONAL BULLION AND METAL BROKERS LONDON LTD, drove 86.15% of total export value from January to September 2025. This structure points to a stable, contract-based supply chain rather than a spot market, with a handful of established relationships forming the market's backbone for Indonesia Jewelry buyers.

Purchasing Behavior & Sales Strategy

The purchasing patterns of these primary HS Code 7113 buyers indicate a reliance on consistent, high-value shipments. Sellers should prioritize securing long-term supply agreements with these anchor clients to ensure revenue stability, especially since [ytrade.com] reported a significant surge in unit prices around May 2025. Mitigating concentration risk by gradually cultivating relationships with the smaller, strategic bulk buyers—who account for another 13.73% of value—can provide a valuable secondary revenue stream without diverting focus from the core accounts.

Table: Indonesia Jewelry (HS Code 7113) Top Buyers List (Source: yTrade)

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Action Plan for Jewelry Market Operation and Expansion

• Secure long-term contracts with core buyers like INTERNATIONAL BULLION AND METAL BROKERS LONDON LTD: They drove 86.15% of export value, ensuring revenue stability.
• Diversify export destinations beyond Switzerland: Mitigate risk by expanding in Singapore and the UAE, which combined account for 25% of current value.
• Leverage India’s import restrictions and duty cuts: Capitalize on diverted demand by targeting high-margin Swiss and UAE buyers with premium precious metal jewelry.
• Optimize logistics for bulk shipments: Focus on cost reduction for commodity-driven markets like the UAE and Jordan, where high quantity but lower value ratios dominate.
• Monitor policy shifts in key markets: Regulatory changes (e.g., India’s import restrictions) directly impact price volatility—adjust pricing and contracts accordingly.

Take Action Now —— Explore Indonesia Jewelry HS Code 7113 Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Indonesia Jewelry Export in 2025?

The May 2025 price surge (65% to $76,439/kg) was driven by India’s import restrictions on jewelry, diverting luxury demand to Indonesia. A second uptick in September followed India’s reduced customs duties, sustaining momentum in key markets like Switzerland and the UAE.

Q2. Who are the main destination countries of Indonesia Jewelry (HS Code 7113) in 2025?

Switzerland dominates with 53.43% of export value, followed by Singapore and the UAE (combined 25%). This heavy reliance on Switzerland creates significant market concentration risks.

Q3. Why does the unit price differ across destination countries of Indonesia Jewelry Export in 2025?

Switzerland commands premium prices for high-margin jewelry (53.43 value-to-weight ratio), while the UAE and Jordan focus on bulk, lower-value shipments. The split reflects demand for quality versus commodity-grade products.

Q4. What should exporters in Indonesia focus on in the current Jewelry export market?

Prioritize long-term contracts with core buyers (86.15% of value) like INTERNATIONAL BULLION AND METAL BROKERS LONDON LTD, while diversifying to smaller strategic buyers to mitigate Swiss market dependence.

Q5. What does this Indonesia Jewelry export pattern mean for buyers in partner countries?

Swiss buyers face stable, high-quality supply but should monitor concentration risks. Bulk buyers (e.g., UAE) benefit from consistent commodity-grade shipments, while US/Thai retailers access fragmented, high-turnover inventory.

Q6. How is Jewelry typically used in this trade flow?

Indonesia’s exports are primarily precious metal jewelry (94% of value), catering to luxury and bulk commodity markets, with distinct segments for high-margin (Switzerland) and high-volume (UAE) demand.

Detailed Monthly and Quarterly Report

Indonesia HS Code 7113 Export Data Snapshot 2025 JAN

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