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Industry History The Philippine jewelry-making trade has been in existence since the early 16th century. Historical records indicate that jewelry-making dates back to the late Stone Age as evidenced by bracelets, pendants and beads from that era. It is believed that skill in making jewelry has been acquired the early Filipinos from their Asian neighbors like the Chinese.
Traditionally, jewelry-making is a home based industry intended to be a source of livelihood for the family. It has become an industry worthy of government attention and support.
Given proper support, the industry can contribute to national economic development by increasing the sector's export receipts and maximizing the country's position as a top producer of gold. These are the fine jewelry sub-sector and the costume jewelry sub-sector. The Philippine fine jewelry industry is engaged in the production of two major product categories, namely: Precious metal jewelry refers to ornaments made of gold and silver that may or may not be mounted with gemstones.
Precious metal jewelry can be in the form of rings, earrings, necklaces, bracelets, brooches, pendants, tie-pins cuff links; and decorative items such as spoons, forks; and office items such as pen and paper holders. Precious metal jewelry made of gold is the major product of the Philippines.
Silver jewelry comprise a smaller portion of the business but is steadily increasing. Pearls, precious stones and semi-precious stones are unworked or worked pearls, cut and polished diamonds and colored gemstones such as emerald, rubies and sapphires in loose form.
They vary according to size, color, cut, clarity and luster as in the case of pearls. Precious stones are defined as diamonds, emerald, rubies and sapphires with some addition of pearls.
All other gems are considered as semi-precious. Notwithstanding the availability of raw materials and the capability of local manufacturers to meet local demand, imported jewelry items still abound in the local market.
No official statistics as to the size of the domestic market for jewelry exist. There is also no reliable data on how much of the locally-available jewelry are made domestically or originated from foreign sources. There are six areas in the country where majority of jewelry manufacturing firms are located and these are Benguet, Metro Manila, Cebu, Davao, the Caraga Region, and Bulacan.
The jewelry industry in the Philippines is a fragmented one composed of cottage-type small firms with little investments in new technology like modern tools and equipment. In Bulacan, jewelry making is concentrated in the town of Meycauayan.
There are about 2, jewelry manufacturers in the province. MJIAwas formed in to oversee and assume the lead role in the development of the jewelry industry in the province. The MJIA has grown from an original membership of 37 to the current Philippine ex[port during the year accounted for only 0.
The comparative advantages of the local jewelry industry, therefore, was not maximized as the local industry performed below capacity in so far as the availability of gold and workers aroundat that time is concerned. The table below shows the industry's historical export performance.
Industry Characteristics The Philippine jewelry industry is a fragmented industry composed of around 10, cottage-type firms. Majority of manufacturers are small, 5 - person operations with minimal investment in modern tools and equipment.
Only a few dozen of these firms have more than 50 workers. Only a few of the firms in the industry are corporations as majority are single proprietorship. Most of the large firms are family-owned.
Only the few firms who have invested in modern tools and equipment are exporting their products. Regular exporters number around Board of Investments BOI registered exporters account for around of the exports.
The leading exporter is Fralpa Manila formerly Midascoa Swiss-owned firm. Factor Characteristics Raw Materials Gold is the major raw material used in the jewelry industry. Other materials used include silver and precious and semiprecious stones. Gold, silver and some semi-precious stones are locally available.View our great downtown location by Union Station and find out the closest airports & driving directions to the Fairmont Royal York, Toronto.
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