The import of dust of precious and semi-precious stones to Australia significantly fluctuated over the past decade. It saw a remarkable rise from 2013 to 2014, an increase of over 500%, followed by considerable volatility until 2017. The trend stabilized somewhat from 2017 onwards, with moderate year-on-year variations. By 2023, the import value stood at 125.83 thousand USD, reflecting a managed growth trajectory with notable year-on-year increases in most subsequent years. Over the last two years, increments have moderated at 4.15% and 3.91%. The compound annual growth rate (CAGR) over the previous five years was 3.68%.
Looking forward, the forecast suggests a stable upward trend through 2028, with an average growth rate of 2.82% per year and an overall growth rate of 14.9%. This indicates a modest yet steady increase in the import value of dust of precious and semi-precious stones to Australia, encouraging a cautiously optimistic market outlook.
Future trends to watch for include:
- Potential impacts of global economic fluctuations on luxury goods consumption.
- Technological advancements in gemstone processing and their effect on import values.
- Regulatory changes regarding trade and tariffs on precious and semi-precious stones.
- Market responses to emerging environmental and ethical sourcing standards in the gemstone industry.
