Jewellery and other articles of precious metal or of metal clad with precious metal; articles of natural or cultured pearls or precious or semi-precious stones (natural, synthetic or reconstructed)

cpc code 38240 covers a diverse range of luxury goods, including jewellery, precious metal articles, and items made from natural or cultured pearls, as well as precious and semi-precious stones. This industry plays a significant role in the global economy, catering to the demand for high-end, exclusive products that are often seen as symbols of wealth, status, and personal expression. The production and trade of these goods are closely tied to the broader luxury goods sector, which has experienced steady growth in recent years, driven by the rising affluence of consumers, particularly in emerging markets.

The production of goods under cpc code 38240 typically involves a range of specialized techniques and processes. Jewellery, for example, may be crafted using methods such as casting, forging, and stone setting, while precious metal articles may be produced through techniques like stamping, engraving, and enamelling. The manufacture of items made from pearls or precious stones often requires skilled gemstone cutting and polishing, as well as intricate assembly and finishing processes to ensure the quality and durability of the final product.

The main inputs required for the production of goods under cpc code 38240 include precious metals (such as gold, silver, and platinum), natural or cultured pearls, and a variety of precious and semi-precious stones (e.g., diamonds, rubies, sapphires, and emeralds). Additionally, specialized tools, machinery, and skilled labour are essential for the various production techniques employed in this industry. The availability and cost of these raw materials and resources can significantly impact the overall competitiveness and profitability of businesses operating within this sector.

The primary outputs of the industry covered by cpc code 38240 are a wide range of luxury goods, including jewellery (such as rings, necklaces, bracelets, and earrings), precious metal articles (e.g., decorative items, tableware, and religious artifacts), and items made from natural or cultured pearls, as well as precious and semi-precious stones. These products are often consumed by 63100 Retail trade services, 62100 Wholesale trade services, and 96020 Repair services of personal and household goods, as well as by individual consumers seeking high-end, exclusive products.