The import volume of worked precious and semi-precious stones to Australia has shown a generally increasing trend from 2013 to 2023. The volume stood at 334.27 thousand kilograms in 2023, marking a steady rise. Between 2013 and 2016, the imports saw significant fluctuations, but from 2017 onwards, the growth rate stabilized. The period from 2022 to 2023 experienced a 2.56% year-on-year increase. The compound annual growth rate (CAGR) over the last five years up to 2023 is 2.82%, indicating moderate and consistent growth.
The forecast for the period from 2024 to 2028 suggests continued growth, albeit at a slower pace, with a forecasted 5-year CAGR of 1.93% and an overall 10.01% growth rate by 2028. The volume is expected to reach 377.81 thousand kilograms by the end of the forecast period.
Future trends to watch for:
• Technological advances in gemstone processing. • Changes in consumer preferences and demand patterns. • Impact of global trade policies and economic conditions. • Regulatory changes and sustainability initiatives affecting the gemstone industry.
