Belarus: Synthetic Gemstones Market 2025

Synthetic Gemstones Market Size in Belarus

The Belarusian synthetic gemstones market surged to $X in 2021, increasing by 416% against the previous year. Over the period under review, consumption saw strong growth. Synthetic gemstones consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Synthetic Gemstones Production in Belarus

In value terms, synthetic gemstones production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 38%. Over the period under review, production reached the maximum level at $X in 2020, and then declined in the following year.

Synthetic Gemstones Exports

Exports from Belarus

In 2021, overseas shipments of synthetic or reconstructed precious or semi-precious stones increased by 66% to X kg, rising for the fourth consecutive year after four years of decline. In general, exports recorded a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 220% against the previous year. Over the period under review, the exports reached the peak figure at X kg in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, synthetic gemstones exports surged to $X in 2021. Overall, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 407%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X kg) was the main destination for synthetic gemstones exports from Belarus, accounting for a 96% share of total exports. It was followed by Hong Kong SAR (X kg), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand totaled +29.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-9.7% per year) and Ukraine (-24.1% per year).

In value terms, Thailand ($X) remains the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from Belarus, comprising 97% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand totaled +33.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-5.9% per year) and Ukraine (-24.4% per year).

Export Prices by Country

In 2021, the average synthetic gemstones export price amounted to $X per kg, shrinking by -27.8% against the previous year. In general, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the average export price increased by 83% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per kg in 2020, and then dropped remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per kg), while the average price for exports to Ukraine ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+5.1%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Gemstones Imports

Imports into Belarus

In 2021, approx. X kg of synthetic or reconstructed precious or semi-precious stones were imported into Belarus; with an increase of 610% against the previous year. Over the period under review, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,850%. Over the period under review, imports reached the maximum at X kg in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, synthetic gemstones imports surged to $X in 2021. In general, imports saw a strong increase. The growth pace was the most rapid in 2018 when imports increased by 2,658%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X kg) constituted the largest supplier of synthetic gemstones to Belarus, with a 82% share of total imports. Moreover, synthetic gemstones imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Russia (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at +5.3%.

In value terms, the Netherlands ($X) constituted the largest supplier of synthetic or reconstructed precious or semi-precious stones to Belarus, comprising 71% of total imports. The second position in the ranking was held by Russia ($X), with a 29% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +7.9%.

Import Prices by Country

In 2021, the average synthetic gemstones import price amounted to $X per ton, with an increase of 67% against the previous year. Over the period under review, the import price recorded a notable increase. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for the Netherlands stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+9.8%).

Source: IndexBox Platform

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