The main three raw materials used for producing jewelry in Italy are gold, platinum and silver. The most expensive precious metal used for manufacturing jewelry and fine jewelry is gold, which had a market price of 1,045.5 euros per ounce in 2015. Platinum came second followed by silver. Yet with respect to international trade, Italy is a major importer of precious metals destined for the jewelry industry. As of 2015 the import value of precious metal amounted to over 4.7 billion euros.
International trade registered a major import and export partner: Switzerland. In 2015, while the value of Italian jewelry industry imports from Switzerland amounted to 649.8 million euros, the export value reached 1.3 billion euros in the same year.
Independent from the product category, fine jewels tend to be the most shopped for jewelry item. In addition, jewelry lends itself to several special occasions such as Christmas or Valentines’ Day. According to retailers of watches, jewelry and silverware, during Christmas 2015 jewelry ranked as the third most purchased product category. For the same occasion, traditional independent jewelry retailers were preferred over jewelers in shopping malls or e-commerce websites.
Jewelry is also considered a special gift for Valentines’ Day, especially among individuals between 35 and 44 years of age. In addition, people in this same age range tend to prefer jewels which are made of alternative materials more than other age groups.