Puerto Rico: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Puerto Rico

The Puerto Rican synthetic gemstones market amounted to less than $X in 2021, almost unchanged from 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 relatively flat trend pattern.

Synthetic Gemstones Exports

Exports from Puerto Rico

In 2021, the amount of synthetic or reconstructed precious or semi-precious stones exported from Puerto Rico amounted to less than X kg, stabilizing at 2020. Overall, exports saw a relatively flat trend pattern.

In value terms, synthetic gemstones exports amounted to less than $X in 2021. Over the period under review, exports saw a relatively flat trend pattern.

Exports by Country

In 2021, Botswana (X tons) was the key exporter of synthetic or reconstructed precious or semi-precious stones, constituting 38% of total exports. It was distantly followed by the United Arab Emirates (X tons), Switzerland (X tons), the United States (X tons), China (X tons), Russia (X tons), India (X tons), Hong Kong SAR (X tons), Japan (X tons) and Singapore (X tons), together comprising a 51% share of total exports. The following exporters - France (X tons) and Germany (X tons) - together made up 4.5% of total exports.

Botswana was also the fastest-growing in terms of the synthetic or reconstructed precious or semi-precious stones exports, with a CAGR of +202.6% from 2012 to 2021. At the same time, India (+52.6%), the United Arab Emirates (+13.3%), Hong Kong SAR (+7.7%), Russia (+5.3%) and the United States (+1.6%) displayed positive paces of growth. France and Gabon experienced a relatively flat trend pattern. By contrast, Switzerland (-6.9%), Germany (-8.3%), China (-13.7%), Japan (-14.4%) and Singapore (-27.3%) illustrated a downward trend over the same period. Botswana (+38 p.p.), the United Arab Emirates (+9.4 p.p.), India (+4.9 p.p.), Hong Kong SAR (+2.2 p.p.) and Russia (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while Germany, Singapore, Switzerland, Japan, Gabon and China saw its share reduced by -1.7%, -4.1%, -7.6%, -8.5%, -16.9% and -17.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) remains the largest synthetic gemstones supplier from Puerto Rico, comprising 55% of global exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 10% share of global exports. It was followed by China, with a 10% share.

In Hong Kong SAR, synthetic gemstones exports increased at an average annual rate of +44.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+29.0% per year) and China (+15.3% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, almost unchanged from the previous year. In general, the export price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Botswana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+33.8%), while the other leaders experienced more modest paces of growth.

Synthetic Gemstones Imports

Imports into Puerto Rico

In 2021, approx. less than X kg of synthetic or reconstructed precious or semi-precious stones were imported into Puerto Rico; flattening at 2020. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, synthetic gemstones imports totaled less than $X in 2021. In general, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, India (X tons) and China (X tons) represented the key importers of synthetic or reconstructed precious or semi-precious stonesin the world, together accounting for approx. 71% of total imports. It was distantly followed by the United Arab Emirates (X tons), making up a 23% share of total imports. The following importers - Belgium (X tons), Thailand (X tons), Hong Kong SAR (X tons) and Russia (X tons) - together made up 4.1% of total imports.

From 2012 to 2021, average annual rates of growth with regard to synthetic or reconstructed precious or semi-precious stones imports into India and China stood at +63.9% and -4.2%, respectively. At the same time, Belgium (+89.1%), the United Arab Emirates (+72.2%) and Hong Kong SAR (+10.2%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the world, with a CAGR of +89.1% from 2012-2021. Russia experienced a relatively flat trend pattern. By contrast, Thailand (-18.6%) illustrated a downward trend over the same period. While the share of India (+59 p.p.), the United Arab Emirates (+21 p.p.) and Belgium (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Russia (-5.7 p.p.), Hong Kong SAR (-6.3 p.p.), Thailand (-15.4 p.p.) and China (-23.4 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported synthetic or reconstructed precious or semi-precious stones into Puerto Rico, comprising 54% of global imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 26% share of global imports. It was followed by the United Arab Emirates, with a 7.6% share.

In India, synthetic gemstones imports expanded at an average annual rate of +56.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Hong Kong SAR (+32.7% per year) and the United Arab Emirates (+73.1% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, remaining stable against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+20.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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