Over the years, the import of worked synthetic precious or semi-precious stones to Brazil has displayed significant fluctuations. From 2013 onwards, imports have generally been witnessing a decline, reaching from 497.57 thousand USD in 2013 to 195.93 thousand USD in 2023. The lowest point in this period was seen in 2017 with 232.41 thousand USD. The last two years reflect year-on-year variations of -6.67% in 2022 and -7.01% in 2023. The CAGR from 2018 to 2023 is -6.79%, indicating a steady downward trend.
Looking ahead, the forecasted data indicates a continuation of this downturn, predicting a decrease from 195.93 thousand USD in 2023 to 118.78 thousand USD in 2028. The average annual decrease over the next five years is expected to be -7.95%, reflecting a total decrease of 33.9% during this period.
Future trends to watch for:
- Economic policies and trade agreements impacting import duties and tariffs.
- Technological advancements in the production of synthetic stones potentially affecting global prices.
- Fluctuations in demand within the global jewelry market.
- Brazil’s domestic production capabilities and advancements.
- Changes in consumer preferences and trends towards synthetic stones versus natural stones.
