Bangladesh: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2024

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in Bangladesh

The Bangladeshi precious stone and pearl market contracted to $X in 2022, shrinking by -2.8% against the previous year. In general, consumption, however, showed a strong increase. Precious stone and pearl consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Cultured Pearls, Precious Or Semi-Precious Stones in Bangladesh

In value terms, precious stone and pearl production dropped modestly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 18%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Bangladesh

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were exported from Bangladesh; approximately equating 2021 figures. Over the period under review, exports showed a significant curtailment. The growth pace was the most rapid in 2018 when exports increased by 123%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports contracted remarkably to $X in 2022. In general, exports saw a dramatic curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 204%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Switzerland (X tons) was the main destination for precious stone and pearl exports from Bangladesh, with a approx. 3.1% share of total exports.

From 2016 to 2022, the average annual growth rate of volume to Switzerland was relatively modest.

In value terms, Thailand ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Bangladesh, comprising 56% of total exports. The second position in the ranking was held by Belgium ($X), with a 23% share of total exports.

From 2016 to 2022, the average annual rate of growth in terms of value to Thailand stood at +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-30.0% per year) and Switzerland (+10.2% per year).

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, reducing by -25.3% against the previous year. In general, the export price continues to indicate a significant contraction. The most prominent rate of growth was recorded in 2021 an increase of 103%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Switzerland.

From 2016 to 2022, the rate of growth in terms of prices for Thailand amounted to -77.1% per year.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Bangladesh

In 2022, supplies from abroad of cultured pearls, precious or semi-precious stones increased by 13% to X tons, rising for the second consecutive year after five years of decline. In general, imports, however, showed a precipitous contraction. The most prominent rate of growth was recorded in 2015 with an increase of 11,388% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, precious stone and pearl imports surged to $X in 2022. Overall, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2016 when imports increased by 89%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), China (X tons) and Hong Kong SAR (X kg) were the main suppliers of precious stone and pearl imports to Bangladesh, with a combined 98% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -8.6%), while imports for the other leaders experienced a decline.

In value terms, India ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Bangladesh, comprising 18% of total imports. The second position in the ranking was held by China ($X), with a 7.4% share of total imports. It was followed by Thailand, with a 1.3% share.

From 2012 to 2022, the average annual growth rate of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.0% per year) and Thailand (-8.4% per year).

Import Prices by Country

The average precious stone and pearl import price stood at $X per ton in 2022, growing by 7.4% against the previous year. In general, the import price continues to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 an increase of 3,359%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+69.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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