HS Icon Precious Stones

7103 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $8.68B, Rnk 356 / 1217

2019
Top Exporter | Top Importer
: $1.56B | $2.12B, United States | Hong Kong

2019
Product Complexity
: -1.25, Rnk 838 / 961

2018 - 2019
Export Growth (CAGR)
: -6.12%, Rnk 793 / 1217

2018
Mean Tariff
: 8.16%, Rnk 530 / 1259

 2019
Share of World Trade
: 0.048%, Rnk 356 / 1217

Overview:  This page contains the latest trade data of Precious Stones. In 2019, Precious Stones were the world's 356th most traded product, with a total trade of $8.68B. Between 2018 and 2019 the exports of Precious Stones decreased by -6.12%, from  $9.24B to $8.68B. Trade in Precious Stones represent 0.048% of total world trade.

Exports: In 2019 the top exporters of Precious Stones  were United States ($1.56B), Thailand ($1.2B), Hong Kong ($1.1B), Switzerland ($660M), and India ($591M).

Imports: In 2019 the top importers of Precious Stones were Hong Kong ($2.12B), United States ($1.63B), Switzerland ($921M), India ($848M), and Thailand ($545M).

Tariffs: In 2018 the average tariff for Precious Stones was 8.16%, making it the 530th 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 838th 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.

Exporters and Importers

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Trade By Country

Top Origin (2019): United States, $1.56B

Top Destination (2019): Hong Kong, $2.12B

Precious Stones are the world's 356th most traded product.

In 2019, the top exporters of Precious Stones were United States ($1.56B), Thailand ($1.2B), Hong Kong ($1.1B), Switzerland ($660M), and India ($591M).

In 2019, the top importers of Precious Stones were Hong Kong ($2.12B), United States ($1.63B), Switzerland ($921M), India ($848M), and Thailand ($545M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Italy, $101M

Top Destination Growth (2018 - 2019): United States, $67.1M

Between 2018 and 2019, the exports of Precious Stones grew the fastest in Italy ($101M), Thailand ($86.2M), Singapore ($84.6M), Madagascar ($83.1M), and Zambia ($78.5M).

Between 2018 and 2019, the fastest growing importers of Precious Stones were United States ($67.1M), Thailand ($35.7M), Israel ($18.1M), Singapore ($17.2M), and Sri Lanka ($14.9M).

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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 2019,  market concentration measured using Shannon Entropy, was 4.15. This means that most of the exports of Precious Stones are explained by 17 countries.

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TOP NET EXPORTER (2019): Thailand, $658M

TOP NET IMPORTER (2019): Hong Kong, $1.02B

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 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Precious Stones were Thailand ($658M), Myanmar ($249M), Zambia ($249M), Sri Lanka ($192M), and Mozambique ($189M).

In 2019, the countries that had a largest trade value in imports than in exports of Precious Stones were Hong Kong ($1.02B), France ($286M), Switzerland ($260M), India ($258M), and China ($168M).

Disaggregation

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Value

In 2019, the world most traded Precious Stones, disaggragated by their HS6 level were Rubies, sapphires and emeralds worked but... ($5.69B), Precious & semi-precious stones, nes, worked,... ($2.12B), and Precious, semi-precious stones unworked, partly worke ($867M)

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.