Production of jewelry and bijouterie in Moscow goes up by 41%

In the first quarter of this year, the Russian capital produced 204 000 gold jewelry pieces

Production of jewelry and bijouterie in Moscow grew by 41% in the first quarter compared to the same period last year, TASS reported citing the media communication service of the Moscow Department of Investment and Industrial Policy.
“Moscow-based companies produce a wide range of goods: food products, medicines, various equipment and machinery, clothing and textiles, as well as jewelry and bijouterie. Eighty enterprises are engaged in the production of jewelry in Moscow, of which six are medium and large. In the first quarter of this year, they increased their output by 41% compared to the same period in 2021,” said Vladimir Yefimov, Deputy Moscow Mayor for Economic Policy and Property and Land Relations.
According to him, the city's enterprises use various precious metals and stones in jewelry making - gold, silver, platinum, diamonds, emeralds, pearls, as well as non-precious and semi-precious materials.
As Vladislav Ovchinsky, head of the Moscow Investment and Industrial Policy Department added, the volume of shipped jewelry and products made from precious materials in the capital increased by 18.8% compared to 2021 and by 60% compared to 2020 - up to 10.6 billion rubles. In total, the city produced 204 000 gold jewelry pieces in the first quarter of 2022, which is 11.8% up vs January-March 2021.
“At the same time, the capital produced 36.7 million rubles worth of jewelry in the first quarter for, which is 16% more than in the same period in 2021. The Estet jewelry factory is among the major metropolitan manufacturers. Thanks to its own production facilities and the purchase of raw materials from domestic suppliers, the company was able to significantly avoid the impact of sanctions. The company produces a wide range of jewelry - more than 30,000 items,” the media communication service said.
They added that the company’s products include engagement and wedding rings, earrings, bracelets, pendants, chains and many more items. The company creates both mass market jewelry and premium designer goods.