HS Icon Precious Stones

7103 (Harmonized System 1992 for 4-digit)

World Trade (2018): $7.56B, Rnk 402 / 1225

Top Exporter (2018): $1.2B, Hong Kong

Top Importer (2018): $1.44B, Hong Kong

Product Complexity (2018): -1.29, Rnk 898 / 1018

Export Growth (CAGR)(2017 - 2018): 40.3%, Rnk 101 / 1225

Mean Tariff (2018): 8.16%, Rnk 530 / 1259

Share of World Trade (2018): 0.041%, Rnk 402 / 1225

Overview:  This page contains the latest trade data of Precious Stones. In 2018, Precious Stones were the world's 402nd most traded product, with a total trade of $7.56B. Between 2017 and 2018 the exports of Precious Stones grew by 40.3%, from  $5.39B to $7.56B. Trade in Precious Stones represent 0.041% of total world trade.

Exports: In 2018 the top exporters of Precious Stones  were Hong Kong ($1.2B), Thailand ($1.12B), Switzerland ($843M), United States ($691M), and India ($608M).

Imports: In 2018 the top importers of Precious Stones were Hong Kong ($1.44B), United States ($1.42B), Switzerland ($911M), India ($872M), and France ($720M).

Tariffs: In 2018 the average tariff for Precious Stones was 8.16%, been the 530 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Precious Stones are Angola (50%), Barbados (45.1%), Belize (44.2%), Cape Verde (40%), and Ethiopia (34.7%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Indonesia (0%), and Japan (0%).

Ranking: Precious Stones ranks 898th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Hong Kong, $1.2B

Top Destination (2018): Hong Kong, $1.44B

Precious Stones are the world's 402nd most traded product.

In 2018, the top exporters of Precious Stones were Hong Kong ($1.2B), Thailand ($1.12B), Switzerland ($843M), United States ($691M), and India ($608M).

In 2018, the top importers of Precious Stones were Hong Kong ($1.44B), United States ($1.42B), Switzerland ($911M), India ($872M), and France ($720M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Thailand, $773M

Top Destination Growth (2017 - 2018): Hong Kong, $817M

Between 2017 and 2018, the exports of Precious Stones grew the fastest in Thailand ($773M), United States ($341M), Switzerland ($284M), Burma ($235M), and Hong Kong ($211M).

Between 2017 and 2018, the fastest growing importers of Precious Stones were Hong Kong ($817M), United States ($386M), France ($283M), Thailand ($237M), and Italy ($202M).

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Market Concentration

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Cumulative market share

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

In 2018,  market concentration measured using Shannon Entropy, was 4.08. This means that most of the exports of Precious Stones are explained by 16 countries.

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TOP NET EXPORTER (2018): Thailand, $716M

TOP NET IMPORTER (2018): United States, $731M

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 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Precious Stones were Thailand ($716M), Burma ($329M), Mozambique ($257M), Sri Lanka ($223M), and Brazil ($143M).

In 2018, the countries that had a largest trade value in imports than in exports of Precious Stones were United States ($731M), France ($449M), India ($265M), Hong Kong ($241M), and Italy ($203M).

Trade Forecasts

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This section shows forecasts for total trade for Precious Stones. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Precious Stones was 8.16%.  The countries with the highest tariffs for importing Precious Stones were Angola (50%), Barbados (45.1%), Belize (44.2%), Cape Verde (40%), and Ethiopia (34.7%).

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Product Complexity

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Diversification Frontier

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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.