United Arab Emirates: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2024

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in the United Arab Emirates

The precious stone and pearl market in the United Arab Emirates contracted to $X in 2022, reducing by -9.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from the United Arab Emirates

In 2022, the amount of cultured pearls, precious or semi-precious stones exported from the United Arab Emirates shrank slightly to X tons, falling by -3.4% compared with the previous year's figure. Overall, exports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 194%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports reduced to $X in 2022. In general, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 41% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X tons), the UK (X tons) and Hong Kong SAR (X tons) were the main destinations of precious stone and pearl exports from the United Arab Emirates, together accounting for 54% of total exports. Australia, Israel, Switzerland and the United States lagged somewhat behind, together comprising a further 3.5%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +71.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for precious stone and pearl exported from the United Arab Emirates were Hong Kong SAR ($X), India ($X) and the United States ($X), together accounting for 75% of total exports. Israel, Switzerland, the UK and Australia lagged somewhat behind, together comprising a further 12%.

Among the main countries of destination, Israel, with a CAGR of +67.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, shrinking by -5.3% against the previous year. Overall, the export price continues to indicate a precipitous descent. The pace of growth appeared the most rapid in 2016 an increase of 138% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+36.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into the United Arab Emirates

In 2022, the amount of cultured pearls, precious or semi-precious stones imported into the United Arab Emirates shrank to X tons, declining by -5.6% on the year before. Overall, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2017 when imports increased by 105% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, precious stone and pearl imports dropped to $X in 2022. In general, imports saw a deep downturn. The pace of growth was the most pronounced in 2013 when imports increased by 43% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The UK (X tons), India (X tons) and Israel (X tons) were the main suppliers of precious stone and pearl imports to the United Arab Emirates, with a combined 55% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +70.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Hong Kong SAR ($X) and the United States ($X) appeared to be the largest precious stone and pearl suppliers to the United Arab Emirates, with a combined 70% share of total imports. Belgium, Israel, the UK, Thailand and Tanzania lagged somewhat behind, together accounting for a further 9%.

In terms of the main suppliers, Israel, with a CAGR of +9.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, reducing by -3.6% against the previous year. Overall, the import price saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when the average import price increased by 15%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Belgium ($X per ton), while the price for Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mozambique (+243.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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