Weakened Asian and US markets caused slump in 2009.
The German jewellery export market has been hit by the recession and a “sluggish” demand from international markets.
Alfred Schneider, the German representative at the BaselWorld press conference, said that weakened demand in key export markets, such as the US and Asia, had hit German jewellery manufacturers hard in 2009.
Schneider said: “2009 was obviously the most significant fall in five years. It has been affected by the worldwide crisis and sluggish demand from abroad.”
Schneider revealed that a new initiative, called Jewellery Relation Group, has been launched in Germany to try to “position jewellery and watches higher on the list of the consumer”. The group has worked with trends forecaster to create ranges and advertising that inspires German shoppers, and will intensify its campaign in the coming year.