Indonesia: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Indonesia

The Indonesian synthetic gemstones market reduced to $X in 2022, falling by X% 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). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Synthetic gemstones consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Synthetic Gemstones Exports

Exports from Indonesia

In 2022, the amount of synthetic or reconstructed precious or semi-precious stones exported from Indonesia fell markedly to X kg, declining by X% against the previous year. Over the period under review, exports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at X kg in 2021, and then reduced markedly in the following year.

In value terms, synthetic gemstones exports dropped rapidly to $X in 2022. Overall, exports showed a precipitous descent. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X kg) was the main destination for synthetic gemstones exports from Indonesia, accounting for a X% share of total exports. Moreover, synthetic gemstones exports to Singapore exceeded the volume sent to the second major destination, China (X kg), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Singapore stood at X%.

In value terms, Singapore ($X) emerged as the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from Indonesia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to X%.

Export Prices by Country

In 2022, the average synthetic gemstones export price amounted to $X per ton, waning by X% against the previous year. In general, the export price continues to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X,606 per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Singapore amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced a decline.

Synthetic Gemstones Imports

Imports into Indonesia

In 2022, supplies from abroad of synthetic or reconstructed precious or semi-precious stones decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. In general, imports recorded a slight slump. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, synthetic gemstones imports reduced sharply to $X in 2022. Over the period under review, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest synthetic gemstones supplier to Indonesia, accounting for a X% share of total imports. Moreover, synthetic gemstones imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

In value terms, the largest synthetic gemstones suppliers to Indonesia were the United States ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports. Singapore, Russia and China lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Russia, with a CAGR of X.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic gemstones import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, synthetic gemstones import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average 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 China ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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