From gold to uncertainty: 2025 opens on a low note for the Italian jewelry industry, which sees the long wave of the boom recorded in 2024 fading. According to the latest industry figures, exports between January and May amounted to 5,88 billion euros, down 15,2% compared to the same period the previous year.

The sharp decline in sales to Turkey (-42,2%), the leading market last year, is the most significant factor, having now returned to lower levels. However, the US market is causing concern for the sector: -18,9% in flows to the US, driven by a climate of uncertainty fueled by the introduction of new tariffs on jewelry imports, effective July 27.