Economy News Monday October 18, 2010 11:51 —Export Department

Domestic Production :

The Philippines’ abundant supply of gold, silver, pearls and various gemstones fostered the development of fine jewelry manufacture in the country. In addition to precious metals, the Philippines also has adequate sources of South Sea pearls in Palawan and parts of Mindanao. Deposits of major gemstones are also available in different areas of the country. Among the gemstones sourced locally are Zambales jade and mauve, Mindoro jade, jadeite, jasper, garnet, tektite, quartz, epidote, blue and green schist, and opal.

Fine Jewelry production has been in existence in the country for a quite a number of years. However, its trade was a long time largely informal and underground. Fine jewelry products were often seen as luxury items and not given much government support until recently. Imports of raw materials and equipment for the production of fine jewelry, for that matter, were heavily taxed. Firms had difficulty bringing in materials and equipment for their operations. The industry did not develop as an export industry until the upsurge of world demand for gold jewelry in the 1990s. Government noted the export potential of the sector and consequently included in its 1992 Export Development Plan. From then on, the sector enjoyed relatively steady growth as an offshoot of the passage of various laws that aimed at boosting the industry’s viability and competitiveness in the international market.

Fine jewelry products cover items made of precious or base metals clad with pearls and precious or semi-precious stones. Gold, silver and platinum are considered precious metals, white diamonds, sapphires, emeralds and rubies are examples of precious stones. The semi-precious stones, on the other hand, include quartz, opal, topaz, amethyst and coral.

Finished fine jewelry products include ornaments like rings, bracelets, necklaces, brooches, earring, chains, tie-pins, cufflinks and other articles worn on the body or marched with clothes. The particularly diamonds set in 14K or 18K gold, pearl jewelry and silver jewelry.

There are about 250 enterprises manufacturing and exporting fine jewelry nationwide. The industry employs about 100,000 workers. Most of the firms are concentrated in Metro Manila and nearby province of Bulacan. Other producers are found in Baguio City and Camarines Norte in Luzon; Cebu in the Visayas; and Davao, Surigao and Zamboanga in Miindanao. Small and medium-scale jewelry enterprises comprise about 50% of the industry, while the top 10 largest jewelry chains and manufacturers represent less than 25%. Only few firms subcontract work. Most rely on in-house workers for production.

Marketing :

Finished fine jewelry products include ornaments like rings, bracelets, necklaces, brooches, earring, chains, tie-pins, cufflinks and other articles worn on the body or marched with clothes. The particularly diamonds set in 14K or 18K gold, pearl jewelry and silver jewelry.

The market for fine jewelry may be divided into three segments: high-end, medium-range and low-end. Products for the high-end market are made of top quality materials and have excellent craftsmanship and designs. As such, consumers in the high-end market are not price sensitive. The middle and low-end markets are usually more price-conscious and treat items bought as investments. Women tend to be the bigger market for fine jewelry as such products are usually used for personal adornment. Although men also purchase jewelry items, these are usually intended as gifts.

On the whole, fine jewelry is considered a passion for high income households. Most consumers buy only from trusted or well known jewelers or retailers. The business of local jewelry retailing consists of independent jewelers and chain jewelry stores. The former also carry more fashion jewelry items and feature a wider of non-jewelry gift products. The jewelry store chains focus on only a few product categories such as diamond bridal market.

Rings continue to top the list of products manufactured followed by earrings, necklace and ladies terno.

A variety of methods is used in selling jewelry products. Most manufacturers dispose their products using combination of direct selling, sales outlet and agents. Most manufacturers do not promote their products formally. Other companies have their company brochure and joined fairs and exhibits.

Marketing plans include establishing display outlets, increasing linkages, lay away plan, participation in trade fairs, going into exporting and conducting quality study. Other marketing strategies include selling on “made to order” basis, employing trusted agents, promotion through word of mouth, direct selling and after sales service and keeping trust.

Prices depend on the gold contents of the total weight of the item and the type of stone embedded in the piece. Prices can start from US$200 to US$300 for basic jewelry such as silver and gold necklaces, bracelets, rings, earrings, pendants and brooches; US1,000 for pearl and gemstone jewelry, 18 karat gold jewelry and natural pearl jewelry; US$ 1,000-US$2,500 for finer silver, gold or platinum jewelry and above US$2,000 for diamonds jewelry with the finest diamonds.

Trade, Import , Export Regulations and Development :

The Philippine government has no restrictions for the importation of gems and jewelry. Therefore, these products are liberalized items.

Meanwhile, the Philippine Export Development Plan prepared through the initiative of the Department of Trade and Industry included fine jewelry among the original fourteen (14) export winners with the end view of harnessing the industry’s full export potential.

Republic Act 8502 otherwise known as the Jewelry Industry Development Act of 1998 features tax and duty relief to jewelry manufacturing including importation of gemstones and raw materials components and equipment. Among the features of Republic Act 8502 are the following :

  • Entitlement to a zero duty on imported raw materials which include precious metals, loose gems, gemstones, jewelry parts, accessories and supplies;
  • Exemption from the imposition of excise tax;
  • Entitlement to zero duty on imported capital equipment, including spare parts and tools;
  • Entitlement to a deduction from taxable income equivalent to one hundred fifty percent (150%) of expenses incurred in training schemes;
  • Entitlement to gold and silver sales by the Central Bank of the Philippines;
  • Authority to buy silver and gold directly from other sources without specific authority from the Central Bank of the Philippines. However, this shall not include sale of gold and silver from the small-scale miners;
  • Inclusion to locally manufactured products in the government’s tourist duty free shops; and
  • Eligibility to other incentives provided for by other special laws.

In line with the government’s thrust to promote technology upgrading, metal working equipment were given zero tariff rates. Jewelry firms may also rent the modern equipment found in common service facilities for their own production.

Other Incentive packages are available to investors. Registration with the Board of Investments entitles a firm to have an income tax holiday and partial duty exemption for equipment whose tariff rates have not been lowered to zero.

Philippine Trade Statistics :

The Philippine imports Gold in 2009 valued at US$134.713 million a decreased of 63.64% from 2008 atUS$220.450 million. Major exporting countries include Japan, Hongkong, Korea. Malaysia and Singapore. On the other hand, the country imported Silver amounting to US$0.854 million a decreased of 96% compared in 2008 US$1.675 million. Top Selling countries were Germany, Singapore, Taiwan, United States and Japan. Meanwhile, the Philippine imported Jewelry with Precious Metals at US$0.465 million in 2009 an increased of 0.5% compared in 2008 US$0.234 million. The country bought from Japan, Singapore, French, Italy and Germany. Moreso, the country imported minimal amount of articles with Pearls amounting to US$0.008 in 2009 as that of 2008 US$0.017 million and Other Articles with Precious Metals valued at US$0.006 million in 2009. The Philippines exported Gold in 2009 amounting to US$216.898 million a decreased by 84.30% compared in 2008 US$399.748 million. Major importing countries include Hongkong, Taiwan, Switzerland, Japan and Malaysia. The country also exported Silver in 2009 valued at US$19.956 million down by 7.72% compared in 2008 US$21.497 million. Big countries buyers were Malaysia, Italy, Taiwan, Thailand and Hongkong.

On the other hand, the Philippines also exported Jewelry with Precious Metal amounting to US$28.359 million in 2009 a increased by 9.2% compared in 2008 US$25.973 million. The country exported to countries such as Italy, United Kingdom, Hongkong, Japan and United States. Articles with Pearl Stones totaled to US$1.535 million in 2009 decreased by 11.07% compared in 2008 US$1.705 million. Big importing countries include Hongkong, Switzerland, Japan, United States and France.

The slowdown of the worldwide economy attributed to the decreased in the Philippine export and imports of jewelries from other countries.

Taxes and Tariff Rates :

The Value Added Tax (VAT) is 12% for all items of jewelry.

The Philippine’s Import Tariff rates for fine jewelry and gems stones for ASEAN CEPT (all ASEAN countries including Thailand) is 0% and Most Favored Nations Rate (excluding ASEAN countries) is 3-10%.

Trade Barriers :

No trade barriers for products of jewelry and gemstones.



29 F. Ocampo Avenue, Manuela IV Pamplona

1740 Las Pinas City, Philippines

Tel.: (632) 8729987

Fax : (632) 8722589

Email :


2nd Floor, Lions Club Building, Gov. Pack Road

Baguio City, Philippines

Tel.: (6374) 4427082 ; 4434515

Fax : (6374) 4427082



Unit 104, Sunrise Condominium,

226 Ortigas Avenue, Greenhills

San Juan, Metro Manila, Philippines

Tel: (632) 7211971 to 73


821 Ongpin street, Sta.Cruz Manila, Philippines

Tel: (632) 7333097

Fax: (632) 7333105



219- 2/F, Greenhills Jewelry Center, Greenhils, San Juan,

Metro Manila, Philippines

Tel: (632) 7258767, (632) 7255873



VFP Building 2, West Bicutan, Veterans Center

Taguig, Metro Manila, Philippines

Tel: (632) 8390036; (632) 8390026

Fax: (632) 8390029



Vice President


549 Vergel Street Pasay City, Philippines

Tel: (632) 8425819

Fax: (632) 8445601

Mobile: (63) 9178220901





700 Shaw Boulevard Pasig City, Philippines

Tel: (632) 6314471; 5233151

Fax: (632) 6355637; 5245993



Creative Director


1209 Equitable Tower, ADB Avenue cor. Poveda Street, Ortigas Center,

Pasig City, Philippines

Telefax: (632) 6340097


Philippine Top Importers of Fine Jewelry and Gems

1. Mr. Benjamin C. Yap

General Manager


2nd/F Shangri-La Hotel Manila Near Shanghai Palace

Ayala Ave., Makati City, 1200 Philippines

Tel. (632) 813-5009 to 10

Fax.(632) 819-38-84

2. Mr. Richmond S. Yang

General Manager


Stall 162 G/F Glorieta 4, Ayala Center,

Makati City, 1200 Philippines

Tel. (632) 7284881

Fax.(632) 8924578

3. Mr. Emerson A. Yao

General Manager


2nd Floor, Quad I Ayala Center, Makati City, 1200 Philippines

Tel. (632) 752-7465 or 66 / 894-0303

Fax. (632) 815-3432

E-mail Add.:

4. Mr. Gabriel S. Panlilio

General Manager


6750 Bldg., Ayala Avenue

Makati City, Philippines

Tel. (632) 813-23-58 / 813-0075

Fax .(632) 812-9660

Mobile: 0916-6665477


5. Mr. Hans R. Brumann

General Manager


Legaspi Park View Condominium

134 Legaspi St., Legaspi Village, Makati City, Philippines

Tel. (632) 892-5058 / 893-1203

Fax . (632) 812-9881

E-mail Add.: ;

6. Mr. Abelardo A. Mondonedo

General Manager


6th Floor, National Life Building

Ayala Ave., Makati City, Philippines

Tel. (632) 810-0266

Fax (632) 818-9778 / 818-9194

Mobile No. 0917-533-3122

E-mail Add.:


7. Ms. Kristine Yang

General Manager


6750 Bldg., Ayala Ave. Makati City, Philippines

Tel. No. (632) 812-9725 / 812-6251 (Acctg. - Asian Mansion)

Fax No. (632) 818-8437 /810-3196

8. Mr. Mark Alexander B. Velayo

General Manager



Unit 309, First Level

Shangri-La Plaza, EDSA, Mandaluyong City, Philippines

Tel. No.(632) 634-8086 to 88

Fax No.(632) 634-8088

9. Mr. Teddy T. Ortiga

General Manager


S1 A&B, 2nd Floor, The Gallery Bldg.

Amorsolo Street, Legaspi Village, Makati City, Philippines

Tel. Nos. (632) 844-5525 / 843-5380

Fax No.(632) 817-4268


10. Mr. Jean Henri D. Lhuillier

General Manager


1782 PJL Corporate Center

N. Garcia & Candelaria St. Bel-Air, Makati City, Philippines

Tel. No. (632) 899-8757 or 895-0876 / Acctg. 897-9332

Fax No. (632)899-8450

E-Mail Add.: &/or

11. Ms. Mercedes C. Llamas

General Manager


2nd Floor, Quad I, Ayala Center, Makati City, Philippines

Tel. Nos. (632) 812-0496 / 815-8631 / 817-3268

Fax Nos. (632) 816-4190 / 575-24-89

Mobile Nos. 0917-536-0924

E-Mail Add.:

Website :

12. Mr. Ronnie Co

General Manager


924 Masangkay Street, Binondo, Manila,1006 Philippines

Tel. Nos. 245-0588 / 89 / 244-8733

Telefax No. 245-0631

E-mail Add.:

13. Ms. Amelita A. Daez

General Manager


G/F, 2276 Narra Bldg.Pasong Tamo Ext., Makati City 1200


Tel. No. (632) 893-1171 or 76

Fax no. (632) 817-0058 Beeper 150-303-131

E-mail Add.:


14. Mr. Ernesto Ang

General Manager


5th Floor, Bldg. B SM MegaMall, Mandaluyong City, Philippines

Tel. Nos. (632) 634-7581 / 633-4935 / 5098

Fax No. (632) 361-62-94

E-mail Add.:

15. Mr. Renato A. Florencio

General Manager


2nd Level Shangri-la Plaza

Mandaluyong City, Philippines

Telefax: (632) 631-1616 / 6311615 / 636-33-99

E-mail Add.:

16. Mr. Daniel Villacorta



Unit 2A, 3rd Floor, TOPS Building, No. 3 Economia Street

Quezon City,1100 Philippines

Telefax : (632) 6345393 / 94

Email :

17. Mr. Antonio Jr. Atienza


Goldenas Jewelry Corporation

145 Saluysoy, Meycauayan Bulacan 3020


Tel.: (6344) 8407007

Fax : (6344) 8408008


18. Mr. Emerson C. Yao

General Manager


Shop 104, Quad III Ayala Center, Makati City,1200 Philippines

Tel. Nos. (632) 751-6974 / 894-4342 / 894-0303

Fax Nos. (632) 815-3432 / 751-6796

E-mail Add.:

Website :

19. Ms. Malu D. Unson

General Manager


3640 P. Sanchez Street

Sta. Mesa, Metro Manila, Philippines

Tel. Nos. (632) 713-9572 to 73

Fax No. (632) 713-9573

E-mail Add.:

20. Ms. Ann Michelle Co

General Manager


Shop #4, G/F The Peninsula Hotel Manila

Ayala Avenue, Makati City, Philippines

Tel. No. (632) 844-0822 / 245-0588

Fax No. (632) 245-0631

Email Add.:


1. Ms. Jennifer P. Cruz

General Manager

33 Point 3 Exports, Incorporated

M.L. Quezon Street, Casuntingan

Mandaue City 6014, Philippines

Tel.: (6332) 3448831 to 32 ; 3450449

Fax : (6332) 3440518


2. Ms. Clarence A. Sanchez

General Manager

Amarcas International Corporation

# 153 J. Rizal Street, Mandaue City 6014

Cebu, Philippines

Tel. : (6332) 3461109 ; 3445740

Fax : (6332) 3460064

Email :

3. Mr. Alfredo Baldivas


Alcon Jewelry, Incorporated

# 2- A Lena Hills Street, Rolling Hills, New Manila

Quezon City, Philippines

Telefax.: (632) 7246391

Email :

4. Ms. Gladys M. San Jose

Office Manager

Dam Good Stuff, Incorporated

2nd Floor, Corinthian Plaza, 121 Paseo De Roxas

Legaspi Village, 1229 Makati City, Philippines

Tel.: (632) 8405183

Fax : (632) 8402572

Email : ;

5. Ms. Gina J. Mendoza

General Manager

Distinction House of Jewels

219 — 2nd Floor, Greenhills Jewellry Center

Greenhills, San Juan, Metro Manila, Philippines

Tel.: 9632) 7255873

Fax : (632) 7258767

6. Mr. Antonio Z. Atienza, Jr.

CEO / President

Goldenas Jewellery Incorporated

# 145 Saluysoy Meycauayan, Bulacan


Tel.: (632) 2996122 (6344) 8407007

Fax : (6344) 8408008

Email :

Website :

7. Ms. Kate Lagman

Senior Sales Officer

Jewelmer International Corporation

701 National Life Insurance Bldg.,

# 6762 Ayala Avenue, Makati City, Philippines

Tel.: (632) 8100266

Fax : (632) 8189194

Email :

8. Ms. Mary Ann Guevara

Marketing Director

Lanero, Incorporated

The Jewellery Greenhills Shopping Center

San Juan, Metro Manila, Philippines

Tel.: 9632) 7235028

Fax : (632) 7236280

Email :

9. Ms. Mercedes Llamas


Mercelles Corporation

2nd Floor, Shangrila La Hotel Ayala Avenue

Makati City, Philippines

Tel. : (632) 8173286

Fax : (632) 8164190


Website :

10. Ms. Mia Florencio

Corporate Secretary

Recomira Ray Corporation

2nd Floor, Agustin 1 Bldg., Emerald Bldg.

Ortigas, Pasig City, Philippines

Tel.: (632) 6311615

Fax : (632) 6311616

Email :

Trend of the Jewelry Industry :

The Industry made significant headway in the foreign market when exports of fine jewelry increased by 55% in 2006. The challenge for the sector is to maintain the momentum for this growth over the next several years. The industry needs to encourage more manufacturers to venture into the export of their products. This should increase the vase of exporters and allow the sector to expand its presence in current markets and enable more experienced firms to tap new buyers in other regions. Developing exporters can be done in a phased manner so that firms can enter the foreign market in a pace that is comfortable for them. Exporters can attend smaller fairs and then work their way up to the major international events.

In line with this effort to generate more exports, there should be an industry wide marketing program based on some distinctive features of local jewelry aimed to specific markets. The target market can be geographic in scope (i.e. Europe) with certain design and price considerations. The industry should obtain the necessary market data to help build up this program. With the target market identified and the proper image for local jewelry established, the necessary marketing collaterals can be developed and promotional efforts undertaken.

The Companies need to continue working for favorable conditions on their supply of precious metals and other materials as well as the importation of equipment and technology. The industry has to enhance their collective advocacy capability to be able to sustain efforts in working a better business environment.

A number of firms in the industry have a semi-mechanized setup in production and utilize manual means in their other activities such as material handling, quality control and packaging. Most companies find it hard to upgrade machineries due to the high taxes on equipment importation. Other concerns in production include adequate Research and Development, lack of testing facilities and need for proper waste management.

In marketing, the sector lacks a cohesive marketing program that could create a bigger impact on the global fine jewelry market. The cost of developing foreign markets is high and often takes time before significant sales are generated. This discourages more firms to get into fine jewelry exports. On the local front, firms generally rely on a traditional system of agents to sell their products although a few firms have their won retail stores. If more companies are to go into exports, they would have to review and upgrade their current marketing practices.

The challenge for the fine jewelry sector for the next few years is to sustain the growth in exports they have experienced in the past year. The sector would need to expand the base of firms that are presently exporting and continue to develop more buyers. Issues all along the fine jewelry value chain would need to be addressed to improve the competitiveness of local jewelry products in the global market.

Opportunity of Thai Companies in the Philippine Jewelry Market :

Thai Companies of Jewelry has a potential in exporting their jewelries to the Philippines particularly the silver and gold with precious stones. Philippine consumers prefer high quality designs as well as prices for the jewelries. Meanwhile, Thai Companies can also have the opportunity to have a joint venture with Philippine Companies particularly in the manufacture of jewelries.

Source :

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