The Jewellery Market In Austria by jennyyingdi

VIEWS: 86 PAGES: 27

									 The Jewellery Market in Austria
                     HS-Code 71
Precious Stones and Metal, Pearls & Imitation Jewellery

                     February 2010
                                                                            Contents
1 Market overview ................................................................................................................................4
  1.1     Consumption .................................................................................................................................................4
     1.1.1 Buying habits................................................................................................................................................4
     1.1.2 Product groups ............................................................................................................................................4
     1.1.3 Trends in consumption ..............................................................................................................................5
     1.1.4 Segmentation ...............................................................................................................................................6
     1.1.5 Market outlook ............................................................................................................................................7
  1.2 Production ...........................................................................................................................................................8
     1.2.1 Manufacturers ..............................................................................................................................................8
     1.2.2 Trends in production ..................................................................................................................................9
  1.3 Opportunities ......................................................................................................................................................9

2 Trade channels ............................................................................................................................... 10

3 Imports............................................................................................................................................ 13
   3.1 Statistics ............................................................................................................................................................. 13
   3.2 Opportunities and threats............................................................................................................................... 14

4 Price developments ......................................................................................................................... 15

5 Market access requirements ........................................................................................................... 16
  5.1 Product requirements ...................................................................................................................................... 16
     5.1.1 Hallmarks for precious metal jewellery ................................................................................................. 16
     5.1.2 Diamond Agreement against conflict diamonds ................................................................................. 16
     5.1.3 Ethical jewellery........................................................................................................................................ 17
     5.1.4 Quality of precious or gemstones .......................................................................................................... 17
     5.1.5 The diamond quality pyramid ................................................................................................................ 17
  5.2 Export packaging ............................................................................................................................................. 17
  5.3 Tariffs ................................................................................................................................................................ 18

6 Doing Business ............................................................................................................................... 18

Appendices ........................................................................................................................................ 19
  A1 – Product groups ............................................................................................................................................. 19
  A2 – HS Codes ....................................................................................................................................................... 21
  A3 – Importer ......................................................................................................................................................... 23

Sources ............................................................................................................................................... 27




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                                                                Tables
Table 1: Consumption of jewellery in Austria, 2004-2008 in Mio USD ...............................................................4
Table 2: Production of jewellery in Austria, 2004-2008 in Mio USD ....................................................................8
Table 3: Austrian imports of Gems & Jewellery (HS Code 71) worldwide, by country .................................. 13
Table 4: Austrian imports of Gems & Jewellery (HS Code 71) from Thailand – Austrian Customs ............ 13
Table 5: Austrian imports of Gems & Jewellery (HS Code 71) from Thailand – Thai Customs ................... 14
Table 6: Austrian price movements of jewellery, watches and clocks, 2004 – 2008, indexed vs 2005 .......... 15
Table 7: Development in Austrian average import prices, 2004-2008 in Mio USD......................................... 15


                                                               Figures
Figure 1: Segmentation of EU jewellery market by quality and price, 2008 .........................................................7
Figure 2: Typical distribution structure for jewellery in Austria .......................................................................... 11




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1 Market overview
1.1        Consumption

The Austrian market for jewellery was valued at 653 Mio USD in 2008 in terms of retail sales. Austrian
people spent 78.7 USD per capita in 2008, which was higher than the EU average of 68.2 USD. This
above average consumption indicates a demand for higher quality jewellery, most of which is precious
jewellery. Austria was the tenth largest EU jewellery market and was ranked below Sweden, but above
Poland and Portugal.

Table 1: Consumption of jewellery in Austria, 2004-2008 in Mio USD
                                  Consumption in Mio USD                       Av. ann.                       Cons. per
                                                                                            Population
     Market                                                                      %                          capita 2008 in
                        2004 1      2005       2006       2007       2008                     in Mio
                                                                               change                           USD
Total jewellery            608         630        661        654        653         1.8               8.3              78.7
Precious                   540         555        582        569        562         0.9               8.3              67.7
Costume                     68          75         79         85         91         7.6               8.3              11.0
Source: Der Juwelier, Regioplan (2009)

The jewellery market has grown since 2004, but slightly fell in 2007 due to economic recession and the
increased prices of precious metals. Over the whole period between 2004 and 2008, there still has been an
average annual increase of 1.8%. This was well above the EU average of -0.3%.


1.1.1 Buying habits

The Austrian jewellery market is characterised by a majority of consumers paying much attention to the
quality and exclusivity of a jewellery piece. They tend to be loyal to local manufacturers and are less
influenced by the fast changing trends in fashion than people in other European counterparts.
According to a survey held by Gfk in 2007, there were slight differences between Austrian women and
men in respect of their relative tastes when buying clothing and fashion accessories (including low –
medium priced jewellery):

           • 48% of Austrian women prefer classic/conservative style, against 52% of Austrian men
           • 29% of women were attracted to modern styles, against 25% of men
           • 23% of women were interested in the latest fashion styles, against 23% of men.


1.1.2 Product groups

The share of precious jewellery was reasonably high at 86% of total Austrian jewellery sales. However,
this share has decreased compared to 89% in 2004. As the prices of precious metals were rising, Austrian
people increasingly looked for costume jewellery as an alternative for higher priced precious jewellery.

1   Originally converted from EUR, Source: Bank of Thailand: www.bot.or.th, accessed on January 8th, 2010
    1 EUR = 1.4442 USD; 1USD = 0.6924 EUR

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Since 2007, Austrian people were more careful in their spending due the recession and the rising costs of
housing and energy. Precious jewellery was one of the categories, next to cars, travel, furniture, electrical
and household goods, where people have cut back their spending.

On the positive side, Austria has around 15 Mio tourists from neighbouring Eastern EU countries and
from Russia who form an interesting market for luxury goods, including jewellery.
Jewellery with diamonds, precious stones (rubies, sapphires and emeralds), pearls, enamel (Frey Wille) and
increasingly silver jewellery are still in demand among Austrians and tourists.

The costume jewellery segment has benefited from a growing influence of fashion trends in clothing and
matching accessories. Titanium necklaces, bangles and earrings with glittering or colourful Swarovski
crystals have been particularly popular. There has been a growing number of ‘trend shops’ or ‘lifestyle
shops’ selling jewellery, watches, glasses and leather accessories in Austria. This development has created
more variety in costume and silver jewellery designs being combined with coloured glass, rhinestones, silk,
organza, leather, chiffon or any other material. Some popular brands are Martina Rogy, Uliko, Mayi (fair
trade), Ina or Kent.

A further breakdown of consumption is not available. However, based on import data, a rough indication
of the Austrian jewellery demand by product group is given in chapter 3.

In Appendix 1 you can find a visual overview of the product groups.


1.1.3 Trends in consumption

More availability and interest in accessible jewellery. This refers to costume and silver jewellery of a
good quality and design at affordable prices. Austrian people increasingly look for unusual designs, as an
opposite to cheaper jewellery from China and India. Silver jewellery will be more often integrated in watch
collections and brands become more important.

The popularity of freshwater pearls from Japan (Akoya) or the South Sea, as an opposite to the cultured
pearls from China. Sizes range from 8 to 15mm. Colours are natural, chocolate, or Tahiti black/green. The
classical pearl chains are multi-coloured and longer now.

More integration of jewellery with consumer electronics (mobile phones, ear buds, memory sticks).
An example is the cooperation between Phillips and Swarovski.

The number of marriages in Austria has decreased which has affected precious jewellery sales. According
to Eurostat, the number of marriages per 1,000 people fell from 4.68 to 4.07 between 2004 and 2008,
particularly in 2006. The estimated number of marriages in 2007 was 35,000, which resulted in sales of
approximately 70,000 wedding rings. According to research conducted by the trade magazine ‘Der
Juwelier’, 84% of married couples did not pay any attention to the brand when buying rings.

The number of working women increased. According to Eurostat, the ratio of working women rose
from 60.7% to 65.8% of all Austrian women between 2004 and 2008. This is high, compared to an EU
average of 58.3%. Increase rates were particularly high among young women (15 to 24 years) and older
women (55 to 65 years).


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Young people now tend to find the latest trends from online blogs. Fashion trends, including jewellery,
are finding new ways to become known. Previously the media and celebrities used to dictate what the new
fashion trends would be. Now, there are people who are just very interested in fashion that spread the
word through online blogs. It is in effect a form of online word of mouth. An example –
see http://girldir.com. New fashion trends are also spread around by online video such
as www.youtube.com and different social networks such as Twitter, Facebook, MaySpace, Flickr and many
others. Advertising is increasingly used at these networks.

DIY jewellery and take-away kits
Along with the desire for unique or personal jewellery, there is a trend towards DIY (do-ityourself)
jewellery. Here people create their own jewellery out of laces, strings or chains chokers and personalise
them by adding beads, charms, symbols, coins or stones. Pendants and neckwear are most popular DIY
pieces and not too difficult to make.

Online sellers, chains stores and bijouterie shops offers consumers to browse and buy from colour-
coordinated walls and cabinets, choosing crystal elements, beads and jewellery stones as a basis for their
own designs. With the help of (in-store) computer programs and knowledgeable staff, people can buy their
own ‘jewellery take away kits’ and make the piece at home. Store also organise DIY workshops with
professional jewellery designers. Some jewellers now promote DIY wedding or engagement rings.

Statement jewellery
In order to give a boost to women’s confidence, strong colours, impact and attitude were buzzwords in fashion
trends of 2008/2009. Statement jewellery with an original design and that clearly expresses a personality or
vision fits well in this trend. For example, strong colours can convey an amusing, extrovert or affectionate
personality, while modern geometric designed jewellery expresses an artistic personality. Ethnic designed
jewellery evokes a bohemian or free spirit personality. Statement jewellery often features huge (cocktail)
rings with an eye-catching stone. Other examples are large teardrop earrings, multi-linked neck chains,
shield-like pendants, large or layered bangles, big brooches or piercings.

Spiritualism and symbolic jewellery
Consumers today are frequently searching for a deeper meaning to life as a reaction to political or
economical uncertainty or as an eye-opener from travelling to exotic countries. This deeper meaning could
be eastern religions, astrology, tribalism or foreign cultures with each having its symbolic jewellery. This is
reflected in the ongoing significance of body piercing and in the strong impact of different ethic African
and Asian designs in recent jewellery fashion. Stones, symbols or charms that dangle on a chain or on a
pendant are typically used in symbolic jewellery. Next to typical local patterns, crosses, stars, flowers,
moon and other celestial motifs are frequent in jewellery designs.


1.1.4 Segmentation

In terms of quality, exclusivity, design and retail price level, the jewellery market can be segmented into
exclusive, accessible and cheap jewellery.

Exclusive jewellery – Upper end
The jewellery in this segment is often made of precious metals. This could be pieces of gold (in higher
carats) or of platinum in plain form or combined with stones, diamonds or pearls. Its unique form is often
made by well-known jewellery designers or by designers from fashion houses. Pieces are perfectly finished
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and retail prices are more than 550 USD as is shown in figure 1. Exclusive jewellery is mainly worn on
special occasions or when going out to a party. It is sold by jewellery specialists, fashion boutiques,
department stores or duty-free gift shops.

Figure 1: Segmentation of EU jewellery market by quality and price, 2008


                                                                                             550 USD or higher




                                                                                             30-500 USD




                                                                                             30 USD or lower




Accessible jewellery – Middle range
This segment includes jewellery that is more accessible to a wider audience. Pieces are made of gold (18-
carat or lower), palladium, silver or costume jewellery. Its price level ranges between 30 USD and 500
USD. Pieces are made in larger quantities than exclusive jewellery. Consumers in this segment are willing to
pay for quality or for special jewellery pieces, but they buy less frequent than consumers in the cheap
segment. Some consumers are conscious about brands and some take note of ethical issues in jewellery
sourcing.

It is sold by all retailers. Due to the recession, this segment suffers from rising sales of cheap imitations.
However in the long run the accessible jewellery segment is expected to grow as consumers are trading up.

Cheap jewellery – Lower end
The cheap segment is dominated by mass produced costume jewellery or low quality silver jewellery that is
mainly imported from China or India. It is of a lower quality and this jewellery is strongly represented in
the Eastern EU countries. Retail prices are lower than 30 USD.

Designs are influenced by jewellery in the higher segments that is often imitated, by street fashion, or by
the latest hypes. Demand is instant and inexpensive pieces are often bought impulsively. It is sold by
accessory chains specialists, clothing chains, department stores, gift stores, hypermarkets, variety stores,
drug stores, street markets and by discount online jewellery sellers.


1.1.5 Market outlook




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Along with the economic recession, the Austrian jewellery market was not expected to grow much in 2009.
A return to growth is expected from 2010. Costume and silver jewellery may grow further and there will be
a grading up to higher quality jewellery items. Impulses to the total jewellery market may come from:

• Increases in disposable income of working women, who will buy more expensive (precious) jewellery
   pieces, influenced by the latest trends in fashion.
• Increased tourism from Russia, particularly in the cities of Vienna, Salzburg, Bregenz and Kitzbuhl.
• Internet sales of jewellery, which is relatively high compared to other EU countries.
• An increased number of immigrants, especially from the new Eastern EU Member States.


1.2 Production

Austria was ranked seventh as an EU jewellery producer, but it is the largest costume jewellery producer in
the EU. Austria mainly produces top-of-the-range costume jewellery, using the latest technologies in the
production of crystals. In 2008, there were 480 small to medium-sized companies, employing 1,139 people.
In precious jewellery production, a gradual fall of 0.9% took place between 2004 and 2008. Whereas
costume jewellery production slightly rose since 2006 because of a sustained popularity of Swarovski
jewellery in the Austrian and especially in export markets.

According to Eurostat, the volume of the total Austrian production was estimated at 348,361 pieces and
represented a sales turnover of 471Mio USD in 2008. Total jewellery production has remained more or less
static since 2004.

Table 2: Production of jewellery in Austria, 2004-2008 in Mio USD
                                 Production in Mio USD                             No. of        No. of
                                                                Ave. annual
  Market                                                                         companies      employees
                                                                change [%]
                                  2004         2006     2008                       [2008]         [2008]
Total jewellery                    471          472      471              0.00            480          1,139
Precious jewellery                  82           85       79              -0.9             36            328
Costume jewellery                  388          387      391               0.2            444            811
Source: Eurostat, Austrian National Statistics (2009)

In terms of value, costume jewellery is the largest category in the Austrian jewellery industry. In 2008, total
jewellery production could be subdivided as follows:

• Costume jewellery: Imitation jewellery – 81% of total value.
• Precious jewellery: Jewellery articles (gold, silver, with gemstones) – 19% of total value.


1.2.1 Manufacturers

The Austrian jewellery industry is long-established and is based on qualitative competition. This implies
that it will not be trying to compete on price with low cost manufacturers. The industry has invested in
environmentally friendly machinery, in design and in modern production methods. Some manufacturers

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specialise in particular products, materials (crystals), special crafts or in special techniques (for example,
enamel used by Frey Wille).

   •   Swarovski is located in Wattens (http://www.swarovski.com) and founded in 1895. In the mid-
       1990s, they introduced the concept of the ‘new world of crystals’ mainly focused on younger
       people. They make transparent and colourful crystal animals, figures, cut crystal stones, artificial
       gemstones and jewellery items (neckwear, bracelets and earrings). In 2008, their global sales valued
       3.8 bn USD. They operate 14 production sites in the world with 22,000 employees. Due to the
       recession, sales in 2008 fell by 5%. They now diversify into clothing (with Hugo Boss), electronics
       and perfumery (with Clarins).

       Swarovski has a subsidiary company Marigot Jewellery with its own production based in
       Samutprakarn. After the semi-finished product is exported from Austria to Thailand. Thailand
       assembles the finished products and ships it back to Austria. For this reason Swarovski is a major
       import partner for Thailand which is also reflected in the imitation jewelry import figures in Table
       4 – Chapte 3.1.

       Contact         Swarovski AG
                       Kristallweltenstraße 1
                       6112 Wattens
                       Austria
                       Tel. +43 (0) 5224 51080

   •   Frey Wille, located in Vienna (http://www.frey-wille.com), specializes in gold jewellery richly
       decorated with ancient patterns on enamel. These patterns are based on designs from
       Hundertwasser, Klimt, Monet and Mucha. They operate their own boutiques (10) and sell through
       jewellery specialists in Austria, USA, Japan and other Asian countries.

       Contact         Frey Wille GmbH & Co. KG.
                       Gumpendorferstraße 81
                       1060 Vienna
                       Austria
                       Tel. +43 (0) 1 599 25


1.2.2 Trends in production

   •   Production is expected to reduce in the future as more of the leading manufacturers contract
       production overseas.

   •   Outsourcing is well advanced in Austria. Most of this outsourcing has gone to Asia, as costs of
       production are so much lower here than other parts of the world, particularly as quality standards
       can also be high. Nevertheless, some companies retain their head office in Austria, and control
       design, marketing and distribution from here.


1.3 Opportunities


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    + As the Austrians are becoming more conscious about their appearance, there is a growing market
      for quality and fashionable and exotic jewellery, nut at an affordable price level.



    + As the jewellery market for working women still develops, there are opportunities for exporters by
      offering, silver and costume jewellery with charms or stones, pendants with amulets and hair
      accessories.

    + Other interesting market niches could be found in the rising number of immigrants and tourists.
      Next to the major cities, popular destinations are primarily to Tirol and Voralberg or other winter
      sports areas. All sorts of costume jewellery, precious jewellery, hair accessories or interesting stones
      could attract this target group.

    + Direct selling to consumers is a future opportunity for developing country (DC) exporters. The use
      of the Internet is well established.

    - An Austrian retailer or distributor will expect some form of comparative price advantage when
       buying from a Thailand. While price is very important, it is equally important not to be perceived
       purely as a source of low cost products. The uniqueness of the exporters jewellery collection in
       terms of special design, material or craftsmanship needs to be emphasized.

Many exporters will also be viewing the opportunities available on the Austrian market. Any of these
trends can equally be an opportunity for one exporter but a threat to another.



2 Trade channels
The largest part of the Austrian jewellery market is controlled by the specialists. The Austrian trade is quite
diverse with many independent specialised jewellery retailers and some jewellery retail chains. Some of the
independent retailers are linked to (multi-sector) buying groups. Internet sales of jewellery have developed
quickly in the past few years.
Within the non-specialists, department stores, clothing stores, trend stores and gift stores are the most
important retailers for jewellery and are taking up a larger proportion of the market.

Importers, wholesalers that supply the above retailers would be the most appropriate channels. The greater
part handles precious and costume jewellery aimed at the lower-middle segments.



                         -   Distribution structure due to large figure on next page    -




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Figure 2: Typical distribution structure for jewellery in Austria




Interesting wholesalers and importers in Austria are:

      • Skrein, located in Vienna (http://www.skrein.at), specialises in personal and extravagant designed
        jewellery.

      • Schneider GmbH (http://www.derjuwelier.at/schneider) deals in modern and classic glamorous
        jewellery.

      • Fachgrosshandel Holzer, located in Innsbruck (http://www.edelsteine-holzer.at), is a wholesaler
        for precious and semi precious stones.

      • Manfred Meixner (http://www.silvermeixi.at) is a small wholesaler and selling agent for custom
        made jewellery.

      • Alpha Gold, loacetd in Linz, deals with fine jewellery. They offer different brands. They sell online
        (http://www.alphagold.at).

A list of jewellery wholesalers/importers can be found via the different jewellery trade Associations - see
final paragraph of this survey.

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Agents are important and they can be found via http://www.coesch.at. However, their role is diminishing
as the trade becomes more concentrated.

Retail trade
According to the WKO (Austrian Federal Economic Chamber), there were in 2007 around 1,400
specialised retail outlets selling jewellery in Austria. The average size of shops was 60 m² and the annual
sales turnover per m² was estimated at 10,987 USD. Some sizeable jewellery specialists were:

         • Juwelier Thomas (http://www.juwelier-thomas.at), Dorotheum Juwelier (28 outlets), Alphagold
           (70 outlets), Weiglein (9 outlets), Diadoro juwelier, Juwelier Huemer (http://www.juwelier-
           huemer.at), Juwelier Horben and Christian Odor.
         • Cartier, Haban, Wagner, Hübner, W. Fischer, Müller, Schwöd, Böhnel, Ellert, Köck, Meindl and
           Jewel selling precious jewellery at the top-end of the market
         • Costume and silver jewellery chains include Bijou Brigitte (http://www.bijou-brigitte.com) with
           19 outlets in 2007, Clair’s Accessories (http://www.claires.at) with 30 outlets and the discounter
           Bijoux Terner, growing at a fast rate.

Buying jewellery online has been particularly popular among younger people. Some online jewellery sellers
are http://www.123gold.at, http://www.carat-online.at, and http://www.jasmins-jewelry.at

Please note that importer contact details can be found in Appendix A3.

In the non-specialist sector, the leading retailers were:

       • Department stores (Kaufhaus Steffl, Gerngross, Kastner & Öhler, Tchibo/Edusho)
       • Clothing stores (H&M, Mango, Palmers, Esprit, Zara and Orsay)
       • Footwear stores (Leder & Schuh, Stiefelkönig and Deichmann)
       • Trend stores and lifestyle stores that sell jewellery along with watches, glasses and leather
       accessories.
       • Souvenir or gift stores
       • Mail order (Neckermann, Quelle, Universal, Otto, La Redoute and Klingel)
       • Discount (Reno, Hofer/Aldi and Zielpunkt).

The majority of department stores and non-specialist chain store operators are foreign-owned, most of
them from Germany, France and Switzerland. These operators have their jewellery made in Asia and do
their own importing.

Price structure
Wholesalers’ margins range between 30 – 50% of the CIF price, agents’ margins are between 6 – 12%,
while retailers’ margins are between 90 – 120%. These margins will vary depending on the type of jewellery
and on which market segment is being targeted. Margins are under pressure because of the high prices for
precious metals, weakening demand and increased competition in precious jewellery from online jewellery
sellers, especially in wedding rings.

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The VAT rate in Austria is 20%.

3 Imports
3.1 Statistics
Table 3: Austrian imports of Gems & Jewellery (HS Code 71) worldwide, by country
                                          Jan - Nov YTD in Mio USD                % Share        % Change
 Rank Country
                                         2007      2008       2009                 2009          - 09/08 -
   1      Switzerland                      658.8   1,688.7     2,147.8                68.78            27.19
   2      Germany                          247.4     352.3       351.3                11.25            -0.29
   3      Thailand                         108.6     122.2       131.7                 4.22             7.77
   4      United States                     26.7      25.9        89.9                 2.88           247.49
   5      China                             98.2      94.5        88.1                 2.82            -6.83
   6      Italy                             47.3      38.2        55.1                 1.77            44.44
   7      Australia                         10.5      17.3        36.3                 1.16           110.41
   8      United Kingdom                     8.1      63.1        31.9                 1.02           -49.39
   9      Canada                             1.1       4.7        25.8                 0.83           451.43
  10      Belgium                           28.7      32.5        18.3                 0.59           -43.51
  13      Japan                             38.0      34.0        13.2                 0.42           -61.24
  14      Hong Kong                         14.7      12.6        10.2                 0.33           -19.23
  21      India                              5.5       5.4         5.5                 0.18             3.03
  30      South Korea                        0.9       0.7         1.5                 0.05           109.05
 Total                                   1,386.9   2,581.2     3,122.6                  100            20.98
Source: Austrian Customs Statistics, accessed via World Trade Atlas on February, 23rd 2010


Table 4: Austrian imports of Gems & Jewellery (HS Code 71) from Thailand – Austrian Customs
   HS                                                 Jan - Nov YTD in Mio USD               % Share % Change
             Description
  Code                                                 2007      2008     2009                2009     - 09/08 -
  7117       Imitation jewellery                         88.86    91.13   108.54                 82.4        19.1
  7113       Jewelry with precious metal                  8.81    14.49    12.36                   9.4      -14.7
  7104       Synthetic, not strung                        6.06    10.96     6.93                   5.3      -36.8
  7103       Other stones, not strung                     4.61     4.52     2.96                   2.3      -34.5
  7116       Article with pearls                          0.04     0.17     0.27                   0.2       62.5
  7115       Other articles with precious metals          0.05     0.06     0.25                   0.2      334.4
  7102       Diamonds                                     0.01     0.20     0.20                   0.2        2.0
  7114       Gold, silversmith articles                   0.06     0.02     0.13                   0.1      415.7
  7108       Gold                                         0.00     0.07     0.03                   0.0      -53.4
  7112       Waste and scrap of precious metals           0.12     0.60     0.03                   0.0      -95.7
  7110       Platinum                                     0.01     0.00     0.02                   0.0        0.0
  7101       Pearls                                       0.00     0.01     0.01                   0.0      -12.0
  7106       Silver                                       0.01     0.01     0.01                   0.0      -51.2
 Total                                                  108.64   122.24   131.74                 28.0         7.8
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Source: Austrian Customs Statistics, accessed via World Trade Atlas on February, 23rd 2010

Table 5: Austrian imports of Gems & Jewellery (HS Code 71) from Thailand – Thai Customs
   HS                                                    Full Year in Mio USD                % Share % Change
             Description
  Code                                                  2007       2008     2009              2009     - 09/08 -
  7113       Jewelry with precious metal                   8.14      11.77    8.14               37.4       -30.8
  7104       Synthetic, not strung                         9.31      11.67    6.26               28.7       -46.4
  7103       Other stones, not strung                      6.41       5.80    3.61               16.6       -37.8
  7117       Imitation jewellery                          95.10      87.00    2.71               12.4       -96.9
  7110       Platinum                                      0.53       2.61    0.65                 3.0      -75.2
  7102       Diamonds                                      0.02       0.21    0.20                 0.9       -4.2
  7116       Article with pearls                           0.00       0.00    0.16                 0.7        0.0
  7114       Gold, silversmith articles                    0.07       0.00    0.04                 0.2      902.0
  7101       Pearls                                        0.00       0.00    0.01                 0.1        0.0
  7107       Base metals with silver                       0.00       0.00    0.01                 0.0        0.0
  7115       Other articles with precious metals           0.00       0.02    0.01                 0.0      -66.5
  7112       Waste and scrap of precious metals            0.08       0.00    0.00                 0.0        0.0
  7118       Coins                                         0.02       0.03    0.00                 0.0     -100.0
 Total                                                   119.67     119.11   21.80               12.5       -81.7
Source: Thai Customs Department Statistics, accessed via World Trade Atlas on February 23rd, 2010



3.2 Opportunities and threats

         + The main growth opportunities for Thai suppliers are in costume jewellery, especially in the sub-
           groups imitation jewellery with parts of glass, cuff links and hair accessories. In costume
           jewellery, developing country suppliers are increasing (see Swarovski chapter 1.2.1).

         + Within precious jewellery there are opportunities in some original (semi-) precious stones, pearls
           and in synthetic stones.

         - Large exporters from China, India and increasingly Philippines are a threat for Thai exporters, due
            to their scale, access to capital and the latest technology.




                                        The Jewellery Market in Austria 2010                                14 | P a g e
  4 Price developments
Consumer prices
Prices of jewellery in Austria increased substantially between 2004 and 2008. According to Eurostat, the
annual increase rate in Austrian consumer prices of jewellery, watches and clocks in 2008 was 16.1%,
compared to 2007. This was much higher than the rate of all goods (3.2%).

In 2008, the annual jewellery price index in Austria was 139.6% higher compared to 2005. The jewellery
index was higher than the index of all goods in the same period – see Table 5 This is mainly due to the
increased prices of precious metals, diamonds and stones and a grading up to quality jewellery.

Table 6: Austrian price movements of jewellery, watches and clocks, 2004 – 2008, indexed vs 2005
 Market                                 2004        2005        2006           2007         2008
 Jewellery, watches and clocks            98.7         100        115.7          120.3        139.6
 All goods                                98.1         100        101.7          103.9        107.3
Source: Eurostat (2009)

According to Eurostat, jewellery prices in Austria were higher than any other EU country, with the
exception of Finland, Sweden and Luxembourg. Austria is quite an affluent country. Consumers generally
prefer to purchase higher quality jewellery, particularly precious jewellery and imitation jewellery with parts
of glass or crystals (Swarovski).

In 2008, 0.5% of all household expenditure in Austria was spent on jewellery watches and clocks, which
was up to the EU27 average of 0.5%.

Import prices
Import prices to Austria have been decreasing between 2004 and 2008, as shown in Table 4.2. In 2008, DC
import prices were slightly below the EU average (115.4 Mio USD per ton). The intra-EU import prices
were also below the EU average (150.3 Mio USD per ton).

In the same year, DC import prices (103.8 Mio USD per ton) were around 70% of the level of intra-EU
import prices. The movement in DC import prices reinforces the trend of more purchases of higher-priced
jewellery from overseas manufacturers.

Table 7: Development in Austrian average import prices, 2004-2008 in Mio USD
                          2004 ave. price in     2006 ave. price in       2008 ave. price in     Ave. Annual
                           Mio USD/ton            Mio USD/ton              Mio USD/ton           change [%]
  Total imports                        167.99                 146.88                   144.03                -3.8
  Intra-EU                             211.89                 202.64                  149.30                 -8.4
  Developing                            90.42                 101.69                  103.79
 countries                                                                                                    3.5
Source: Eurostat (2009)

Please note that these trends should be interpreted with care, as changes in imports do not reflect the
domestic demand, particularly because imports of large quantities of outsourced jewellery by Swarovski
destined for other EU markets.


                                    The Jewellery Market in Austria 2010                              15 | P a g e
The website of Austrian National Statistics (http://www.statistik.at) publishes harmonised indices of
consumer prices, which includes the jewellery sector. There are a few retailers and some manufacturers
who show prices on their website. Other prices can be found at the online jewellery sellers. Prices can be
also found via the German mail order group that also operates in Austria (http://www.otto.de
or http://www.schwab.de).



 5 Market access requirements
Manufacturer in Thailand that prepare to access the Austrian market, should be aware of the market access
requirements of their trading partners and the Austrian government. Requirements are demanded through
legislation and through labels, codes and management systems. These requirements are based on
environmental, consumer health and safety and social concerns. The manufacturer need to comply with
Austrian legislation and has to be aware of the additional non-legislative requirements which their trading
partners in Austria might request.


5.1 Product requirements
5.1.1 Hallmarks for precious metal jewellery

In Austria, there is a compulsory hallmarking system. This means that all gold articles sold in Austria, must
be hallmarked in one of the assay offices in the country.

Hallmarks are a guarantee of the definition and fineness of precious metal objects and for gold and silver
this dates back 700 years, making hallmarks one of the oldest forms of consumer protection. As they are
soft metals, gold and silver are mostly used in alloys. In gold alloys palladium, silver, manganese, nickel,
copper and tin are used, while copper is used in silver alloys. The fineness of precious metals is defined in
parts per thousand (ppt).

For example:
• Gold 916 (22 carat), 750 (18 carat), 585 (14 carat) and 375 (9 carat) ppt. There are two higher categories
of fineness rated at 990 and 999 ppt.

• Silver 925 (Sterling Silver), 958 (Britannia), 800, and a higher fineness of 999 ppt. Silver jewellery with
traces of nickel is prohibited in the EU. Therefore, the use of pure copper and zinc, which are cadmium
and nickel free, are recommended.

• Platinum 999, 950, 900 and 850 ppt. Each differently identified by Pt’ or ‘Plat’ followed by the fineness
in number and by the date letter and Assay office mark.


5.1.2 Diamond Agreement against conflict diamonds

In 2002, Antwerp's Federation of Diamond Dealers, Global Witness and the Association of Diamond
Cutters and Miners (ICM) signed an agreement. The issue of conflict diamonds was brought under the
attention to people through the film ‘Blood Diamond’ with Leonardo di Caprio in 2006 and through
attention to this issue in the media. In relation to diamond trading, a conflict or blood diamond refers to a
                                  The Jewellery Market in Austria 2010                          16 | P a g e
diamond mined in a war zone and which is sold to finance an insurgency or war operation, usually in
Africa.


5.1.3 Ethical jewellery

In 2005, Amnesty International and Global Witness made a guide for consumers, which explained what
they needed to know when buying diamond jewellery to prevent them from unwittingly buying conflict
diamonds. The leaflet ‘Are you looking for the perfect diamond?’ gives questions that consumers should
ask retailers if they want to buy so-called ethical diamonds. Ethical issues especially with diamonds and
stones are gradually becoming more important, especially among older consumers and among ethnic
groups.



5.1.4 Quality of precious or gemstones

Disclosure of all gemstone treatments, independent certification of diamonds, and accurate description of
all materials used in the making of jewellery is becoming the norm.

Weight and size: Like diamonds, gemstones are traditionally weighed in carats. One metric carat = 0.2
gram, being subdivided into 100 parts or points. Different types of gemstones will have different weights
as they are made of different materials and have different densities. This is illustrated in the fact that a
round ‘brilliant cut’ diamond weighing .15 ct. will have to be approximately .22 ct. in a sapphire or ruby to
appear the same size.



5.1.5 The diamond quality pyramid

Diamond is the hardest natural substance known to man and has the brightest lustre of all gemstones. In
the trade, the quality pyramid of diamonds is expressed and measured by the 4 Cs - cut, clarity, carat weight
and colour. The combination of the 4Cs determines the value of a particular diamond.



5.2 Export packaging
Austria is one of the CCM member countries. This means that the Vienna Convention Common Control
Mark (CCM) can be applied to imported precious metals by the Austrian assay office. –
http://www.hallmarkingconvention.org/

It is essential that the outer packaging protects the goods during storage, transport and distribution, so that
they arrive at their final destination in Europe in a condition suitable for sale. The main forms of damage
likely to occur to jewellery are breaking, scratching, abrasion, printing (the transfer of markings from a
packaging material to a polished finish), soiling and discoloration. Moisture, dehydration and temperature
damage is also possible.

Additional information on packaging standards, requirements and EU policies can be found at the website
of The European organization for Packaging and the Environment - http://www.europen.be
                                  The Jewellery Market in Austria 2010                            17 | P a g e
5.3 Tariffs
Up-to-date information on import tariffs and an updated list of least DCs can be obtained from the
Customs Authorities in Rotterdam, The Netherlands, through their online system, known as the Integrated
Tariff of the European Communities (TARIC), at (http://www.douane.nl).

Import duty for gems and jewellery range from 0% to 4%. A detailed list of respective tariffs can be found
in Appendix A2. More information on tariffs and quotas can be found at
http://exporthelp.europa.eu/index_en.html.




6 Doing Business
It is important to appreciate from the outset the importance of holding on the customer. Many buyers are
not always loyal and it is much easier to lose a customer than to find a new one. For more information on
doing business in Austria, visit the following websites:

  • The Austrian Trade Federation of Jewellery, Watches, Antiques and Stamps (The Bundesgremium des
    Juwelen, Uhren, Kunst, Antiquitäten und Briefmarkenhandel) is under the auspices of the Austrian
    Chamber of Commerce (gerhard.eschig@wkk.or.at or http://www.juweliere-austria.org).

  • The Austrian Association of Gold and Silversmiths and Watch Manufacturers (Bundesinnung der
    Gold und Silberschmeide, Juweliere und Uhrmacher can be reached via mailto:schmuck@big2.at.

  • The Pretiosa Diamonds exhibition takes place annually in Salzburg each September and can be
    contacted via pretiosa-diamonds@mgc.at. Creativ Salzburg is an International Gift fair that includes
    costume and traditional jewellery items and takes place biannual in January and September.
    (http://www.creativsalzburg.at).

  • http://www.derjuwelier.at is the website of the publisher of ‘der Juwelier’, which is besides ‘Uhren
    Juwelen’ (http://www.uhrenjuwelen.com), the main trade publication in this sector.




                                 The Jewellery Market in Austria 2010                        18 | P a g e
Appendices
A1 – Product groups




                      The Jewellery Market in Austria 2010   19 | P a g e
The Jewellery Market in Austria 2010   20 | P a g e
A2 - HS Codes

Precious jewellery

               HS Code    Description                            Tariffs
Pearls         710122     Cultured pearls, worked, whether        0.0%
                          or not graded, not strung
Diamonds       710239     Worked diamonds, but not                0.0%
                          mounted or set
Precious/      710391     Rubies, sapphires & emeralds,           0.0%
semi-
precious                  worked but not strung
stones         710399     Precious & semi-precious stones,        0.0%
                          worked but not strung
               710490     Precious & semi-precious stones,        0.0%
                          synthetic, worked but not strung
Jewellery      711311     Articles of jewellery & parts of        2.5%
articles                  silver, whether or not plated or
                          clad
                          Articles of jewellery & parts,
               711319     other                                   2.5%
                          than silver, whether or not plated
                          or clad
               711320     Articles of jewellery & parts, of       4.0%
                          base metal, whether or not
                          plated or clad
               711610     Articles of natural or cultured         0.0%
                          pearls, N.E.S
               71162011   Necklaces, bracelets & other            0.0%
                          articles, wholly of natural precious
                          or semi-precious stone, simply
                          strung
               71162019   Articles made wholly of precious        2.5%
                          or semi-precious stones N.E.S
                          Articles made wholly of precious
               71162090   or                                      n.a.
                          semi-precious stones N.E.S




                             The Jewellery Market in Austria 2010          21 | P a g e
Costume jewellery

              HS Code    Description                           Tariffs
Cuff links    711711     Cuff links & studs, of base metal,     4.0%
                         whether or not clad
Imitation     71171910   Imitation jewellery, of base metal,    4.0%
jewellery                whether or not clad, with parts of
                         glass (excl cuff links, suds)
              71171991   Imitation jewellery, of base metal,    4.0%
                         whether or not clad, (excl
                         jewellery with parts of glass, cuff
                         links & studs)
              71171999   Imitation jewellery, of base metal     4.0%
                         (excl jewellery clad with silver,
                         gold or platinum, or with parts of
                         glass, cuff links & studs)
              711790     Imitation jewellery, excluding         4.0%
                         jewellery of base metal, whether or
                         not clad), i.e. of other material




                           The Jewellery Market in Austria 2010          22 | P a g e
A3 – Importer

                                                                           Postal
Company Name               Employees      Branches   Address                        City               Phone          Web
                                                                           Code
Alfred Josef Römer                                                                                     +43 1
                                                 3   Alserbachstraße 4     1090     Vienna             3176566
Alfred Weidel OHG,
Großhandel mit Uhren,                                                                                  +43 1
Gold- und Silberwaren                                Getreidemarkt 10      1010     Vienna             58732820
Alphagold Schmuck &
Uhren                                                                                                  +43 732 / 65
Vertriebsges.m.b.H                  210         53   Kaplanhofstr. 3       4020     Linz               33 32          www.alphagold.at
Anton Heldwein
Gesellschaft m.b.H. &
Co.                                                                                                    +43 1 512 57
Kommanditgesellschaft                           15   Graben 13             1010     Wien               81-0           www.heldwein.com
Art Deco Schmuck                                     Mahlerstraße                                      +43 1 513 30
GmbH                                                 14/2/Top 4            1010     Vienna             76             www.artdeco.at
Aurum - Schmuck
Handels- gesellschaft                                                                                  +43 316 /
m.b.H.(Feichtinger)                   6         13   Josefigasse 5-7       8020     Graz               714222         www.feichtinger.biz
AUSTROGOLD M.                                                                                          +43 1 526 43
SCHAUB GMBH                                     10   Schottenfeldgasse 1   1070     Wien               99             www.austrogold.at
Bacio d'oro Handels                                  Landstraßer                                       +43 1 718 10
GmbH                                  2              Hauptstraße 101       1030     Vienna             81             www.123gold.at
Bijou Brigitte modische
Accessoires Gesellschaft                                                                               +43 1 /
m.b.H.                              100              Kirchengasse 6/6      1070     Vienna             5356231        www.bijout-brigitte.com
C. Jacobsen KG                                                                                         +43
                                                 3   Brünner Straße 2-4    1210     Vienna             14032652
Claire's Austria GmbH                                                                                  +43 2236 /
                                    163          7   Industriestr.B 13     2345     Brunn am Gebirge   32717 0        www.claires.at
Dorotheum GmbH &                                                                                       +43
Co KG                         430                    Dorotheergasse 17     1010     Vienna             +1+51560221    www.dorotheum.com
Dr. Ofner Gesellschaft                                                                                 +43 7223 852
m.b.H.                                          38   Gürtlerstraße 3       4470     Enns               56-0           www.drofner.com
E. Thurzo Gesellschaft                                                                                 +43
m.b.H.                                           3   Mariahilfer Str. 56   1110     Vienna             15231459
Fachgrosshandel Holzer                                                               +43 512 9327
                           2            Innsbruck            6020   Innsbruck        73             www.edelsteine-holzer.at/
Febus Schmuckhandels                                                                 +43 1 369
Gesellschaft m.b.H.        5            Gymnasiumstr. 69     1190   Vienna           2883           www.febus.at
Fratczak Oeg                                                                         +43 1 728
                                        Handelskai 269       1020   Vienna           9255
FREY WILLE GmbH &                       Gumpendorferstraße
Co. KG.                  160            81                   1060   Vienna           +43 1 599 25   www.frey-wille.com
Frior GmbH                              Rotensturmstr. 16-                           +43 1 513
                                        18                   1010   Vienna           9970
Gebr. Dallinger                                                                      +43
Gesellschaft mbH                    4   Rathausplatz 1       5020   Salzburg         6628411910
Gerhard D. WEMPE                                                                     +43 1 512 33
Gesellschaft m.b.H.                13   Kärntner Straße 41   1010   Wien             22             www.wempe.at
Golden Times Herbert
Eder Gold- u.                                                                        +43 7242
Silberwarenerzeugung      29            Bauordenstraße 64    4604   Wels             628410         www.golden-times.at
Goldwelt Juweliere &                                                                 +43 732 77
Uhrmacher GmbH                     30   Petzoldstr. 13       4020   Linz             28 95-41       www.goldwelt.at
Hakku                                                                                +43 512 27
                                                                                     8393
Hans Andersen                                                                        +43 1 610
Ges.m.b.H.               210            Kolberggasse 73      1239   Vienna           760            www.pierre-lang.com
Hasenzagl Oeg                                                                        +43 2782
                           -            St. Poelten 22       3130   Herzogenburg     83190
Heinrich Schulz
Ges.m.b.H. & Co KG                                                                   +43 1 812
                           -            Hohenbergstr. 18     1120   Vienna           1282           www.silberschulz.at
Heinz Schiendl -                                                                     +43 664
Edelsteinhandel                         Pappelstrasse 9-11   1140   Vienna           4630474        www.carat-online.at
Helvetia-International
Susanne Forstinger                                                                   +43
Gesellschaft m.b.H.                17   Taborstraße 36-38    1020   Vienna           12162373       www.helvetia.cc
Hermann Weikhard
Juwelier & Uhrenhaus                                                                 +43 316 82
GmbH & Co KG                       67   Hauptplatz 13        8010   Graz             21 82-0        www.weikhard.at
Hermex-Bijou Hermann                                                                 +43 7242
Hufnagl                    1            Rablstr. 25          4600   Wels             445150         www.hermexbijou.at



                          The Jewellery Market in Austria 2010                     24 | P a g e
ISA - Modeschmuck
Handelsgesellschaft                                                                      +43 1 798 99
m.b.H.                            14   Modecenterstraße 22    1030   Wien                10
Jasmins Jewelry                                                                          +43 1 585 75
                                       Mariahilferstraße 45   1060   Vienna              66              www.jasmins-jewelry.at
Juwelier Kck                                                                             +43 (01) 532
                                       Am Graben 22           1010   Wien                08 88
Juwelier Schneider                     Getreidegasse
GmbH                                   23/Universitätsplatz                              +43 662 84
                         25            7                      5020   Salzburg            31 55           www.derjuwelier.at/schneider/
Juwelier Wagner                        Kärntner Straße 32-                               +43 1 512 05
Gesellschaft m.b.H.               33   34                     1010   Wien                12              www.juwelier-wagner.at
Juweliere Ellert GmbH                                                                    +43 1 317 52
& Co KG                           29   Stephansplatz 9        1010   Wien                51              www.ellert.at
Kunst-Schmuck.Design                                                                     +43 5225 645
GmbH                                   Bahnstr. 6             6166   Fulpmes             53
La Rossi Gold - und                                                                      +43 1533 61
Juwelen Import           25            Salzgries 18           1010   Vienna              41
Laimer & Co.                                                                             +43 1 403 81
Gesellschaft m.b.H.               20   Lederergasse 35        1080   Wien                20-0            www.laimer.at
Leopold Pöll                                                                             +43 1 587 55
Gesellschaft m.b.H.               15   Rechte Wienzeile 83    1050   Wien                58
M. Einspieler                                                                            +43 463 502
                                       Renngasse 7            9020   Klagenfurt          767             www.einspieler.info
Manfred Meixner                                                      Neuhofen an der     +43 699 1
                          -            Steyrerstraße 7        4501   Krems               117 4879        www.silvermeixi.at
Michael W. Fischer                                                                       +43 1 512 88
                                       Franziskanerplatz 6    1010   Wien                18              www.michael-w-fischer.at
moha schmuckhandels                                                                      +43 1 512 43
GmbH                                   Köllnerhofgasse 3      1010   Wien                62              www.moha.at
Peony Perlen KG                                                                          +43 1 523
                          -            Westbahnstr. 21        1070   Vienna              4166            www.peony-perlen.at
Pierre Lang Europe
Handelsgesellschaft                                                                      +43 1 610 86-
m.b.H.                           115   Kolbegasse 70          1232   Wien                0               www.pierre-lang.com
R. u. F. Schwarzer
Juwelen, Gold- u.
Silberwaren Großhandel                                                                   +43 1 5238
KG                        5            Kaiserstr. 69          1070   Vienna              4760            www.ruf-schwarzer.com

                         The Jewellery Market in Austria 2010                          25 | P a g e
RB -
Schmuckproduktions                        Dr.-Adolf-Schärf-                                    +43 7229 828
GmbH                                 15   Straße 46              4053   Haid bei Ansfelden     82-0           www.lorena.at
Roland Baldauf                                                                                 +43 5574 476
                                     10   Fluh 12 a              6900   Bregenz                04-0           www.humphrey.at
Sabine Kaiserseder - Inh.                                                                      +43 7223 849
Birgit Freudenthaler                 25   Sportplatzstrasse 53   4470   Enns                   01
Schmuck Paukner                                                                                +43 732 77
GmbH & Co.KG.               25            Hopfengasse 9a         4020   Linz                   98 26 0        www.palido.com
Schmuckgroßhandel                                                                              +43
Brottrager GmbH                           Gymnasiumstraße 1      1180   Vienna                 6649801278
Schullin & Söhne                                                                               +43
                                      3   Herrengasse 3          8010   Graz                   3168130000
Schwechater Uhren-                                                                             +43 1 707 62
Engel, Thomas Woller                      Hauptplatz 4           2320   Schwechat              27             www.uhren-engel.at
Serafini GmbH                                                                                  +43 4235 440
                                     10   Fleissleiten 1         9150   Bleiburg               70
Siam Trade Nakapagorn                                                                          +43 664
OEG - Yasmin GmbH            2            Hauptstr. 240          8401   Kalsdorf               5057510
Skalda Brillianten                                                                             +43 732
Mittermayr GmbH                       2   Grillparzerstr. 1      4020   Linz                   664264         www.skalda.at
Skrein                                                                                         +43 1 513
                             -            Canovagasse 7          1010   Vienna                 2284           www.skrein.at
Spora Bangkiev                                                                                 +43 7583
                                          Kremsegger 7           4550   Kremsmünster           6387
Sven Boltenstern
Warenhandelsgesellschaft                                                                       +43 1 877 25
m.b.H.                               10   Schließmanngasse 17    1130   Wien                   14-0           www.boltenstern.at
Tauerngold KG. W.
Hell-Höflinger,
Maschinen-                                                                                     +43 1 533
Kettenerzeugung in Gold     10            Schwedenplatz 2/23     1010   Vienna                 8538           www.tauerngold.at
Uhren Juwelen Heimo                                                                            +43 316 72
Wagner GmbH                          11   Triester Straße 14     8020   Graz                   26 00          www.uhren-wagner.at
Ursula Neuwirth                                                                                +43 1 786
                             -            Hütteldorferstr. 68    1150   Vienna                 2937           www.neuwirth.co.at
Vaugoin Louis                                                                                  +43 1 5876
                             -            Esterhazygasse 21      1070   Vienna                 642            www.louisvaugoin.com
Wolfgang Richter
Gesellschaft mit                                                                               +43 7262 552
beschränkter Haftung                 14   Zdarskystraße 5        3180   Lilienfeld             55
                            The Jewellery Market in Austria 2010                             26 | P a g e
Sources

Bank of Thailand: www.bot.or.th, accessed on January 8th, 2010

CBI: “The Jewellery Market in Austria” (November 2009)

CBI: “The Jewellery Market in the EU” (November 2009)

Compnet Database, August 2009

EuroStat, accessed via World Trade Atlas on February 23rd, 2010

Thai Customs Department Statistics, accessed via World Trade Atlas on February 23rd, 2010

								
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