The world is obsessed with earrings, but the world’s richest and most expensive are all made by Chinese companies, including a $2,500 ring that costs $1,300 in China.
That’s more than double the average price of an earring in the US, according to data from data company comScore.
China’s total retail sales of earrings surpassed $1.4 trillion for the first time last year, with the total sales of gold earrings up 8 per cent from 2014.
And the average earring price rose almost $10,000 to $2.7 million in the year to March 2017, according a Bloomberg report.
The latest data also shows that there were nearly 3,200 earrings imported in 2016 from the US alone, making it the most popular source of earring imports.
Thats almost twice as many as the number of earings in 2016.
The most expensive piece of jewelry made in China, by far, is the $1m-plus Pandora jewelry set.
The world record holder is the Japanese company Choco Jewelry, which is also making earrings for the US.
It is the second-most expensive earring, according comScore, and the second most expensive gold earring.
China has become a big earring market in recent years.
In 2016, China was the world leader with earring exports, with a record $1 trillion worth of ear rings imported into the US in 2016, according the New York Times.
In 2020, China exported more than $3.2 trillion earrings.
In 2018, China’s export value for earrings was more than triple that of the US and almost triple that from Japan.
China had the highest earring export value in the world in 2018.
It accounted for more than 50 per cent of the earring trade in the Americas, according ComScore data.
However, Chinese companies are also facing tough competition from domestic Chinese producers, who have been investing heavily in their own factories and products.
While the pandora earrings have been sold at a record pace in China and the world, the earrings are also increasingly being made in the country’s factories and factories in the United States are still under-performing.
A new report from the Pew Research Center found that earrings made in a factory in the Chinese city of Wuhan, where the pandoras were created, are much more expensive than the earings made in Japan.
For instance, a piece of Pandora earring sold in China cost $9,000 in the state of Wuxi in 2020, compared to $1 in Japan, according data from comScore and data company IHS Global Insight.