HS Icon Precious Stones

Precious (excluding diamond) and semi-precious stone; worked, graded, not strung, mounted, set; ungraded precious (excluding diamond) and semi-precious stone, temporarily strung for convenience of transport

7103 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Precious Stones. In 2020, Precious Stones were the world's 522nd most traded product, with a total trade of $4.37B. Between 2019 and 2020 the exports of Precious Stones decreased by -50.2%, from $8.78B to $4.37B. Trade in Precious Stones represent 0.026% of total world trade.

Precious Stones are a part of Precious metals, gems and jewelry. They include Rubies, sapphires and emeralds worked but not set, Precious & semi-precious stones, nes, worked, not set, and Precious, semi-precious stones unworked, partly worke.

Exports In 2020 the top exporters of Precious Stones  were United States ($788M), Thailand ($591M), Switzerland ($491M), India ($326M), and Hong Kong ($275M).

Imports In 2020 the top importers of Precious Stones were Hong Kong ($924M), United States ($785M), Switzerland ($469M), France ($383M), and Thailand ($371M).

Tariffs In 2018 the average tariff for Precious Stones was 8.2%, making it the 526th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Precious Stones are Angola (50%), Barbados (45.1%), and Belize (43.6%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Indonesia (0%), and Japan (0%).

Ranking Precious Stones ranks 841st in the Product Complexity Index (PCI).

Description Precious stones and semi-precious stones are used in jewelry, such as rings, necklaces, earrings, bracelets, and other items. They can be made from a variety of materials, including diamonds, rubies, sapphires, emeralds, opals, amethysts, garnets and tourmalines.

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Y-AXIS SCALE

The following visualization shows the latest trends on Precious Stones. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2020): United States, $788M

Top Destination (2020): Hong Kong, $924M

Precious Stones are the world's 522nd most traded product.

In 2020, the top exporters of Precious Stones were United States ($788M), Thailand ($591M), Switzerland ($491M), India ($326M), and Hong Kong ($275M).

In 2020, the top importers of Precious Stones were Hong Kong ($924M), United States ($785M), Switzerland ($469M), France ($383M), and Thailand ($371M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2019 -  2020): South Africa, $5.59M

Top Destination Growth (2019 - 2020): China, $61.6M

Between 2019 and 2020, the exports of Precious Stones grew the fastest in South Africa ($5.59M), Namibia ($4.87M), Japan ($3.8M), Chinese Taipei ($3.27M), and Greenland ($936k).

Between 2019 and 2020, the fastest growing importers of Precious Stones were China ($61.6M), Netherlands ($7.13M), Australia ($2.28M), Austria ($1.36M), and Denmark ($1.29M).

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Market Concentration

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Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Precious Stones.

In 2020,  market concentration measured using Shannon Entropy, was 4.25. This means that most of the exports of Precious Stones are explained by 19 countries.

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TOP NET EXPORTER (2020): Thailand, $220M

TOP NET IMPORTER (2020): Hong Kong, $648M

This map shows which countries export or import more of Precious Stones. Each country is colored based on the difference in exports and imports of Precious Stones during 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Precious Stones were Thailand ($220M), Burma ($175M), Zambia ($138M), Mozambique ($114M), and Brazil ($101M).

In 2020, the countries that had a largest trade value in imports than in exports of Precious Stones were Hong Kong ($648M), France ($280M), China ($176M), Japan ($65.3M), and Italy ($46.7M).

Disaggregation

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Value

In 2020, the world most traded Precious Stones, disaggragated by their HS6 level were Rubies, sapphires and emeralds worked but... ($2.83B), Precious & semi-precious stones, nes, worked,... ($1.13B), and Precious, semi-precious stones unworked, partly worke ($410M)

Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Precious Stones.
It is possible to select the main countries that export or import Precious Stones in the world, or by continent, as well as select the measure of interest.

Product Complexity

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Diversification Frontier

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Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Country by Relatedness

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The following visualization shows the relatedness of Precious Stones to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.