The import of articles of precious, semi-precious, and artificial stone to the UAE has seen significant fluctuations over the past decade. Starting in 2013, the volume stood at 11.5 thousand kilograms. It experienced a substantial increase up to 30.37 thousand kilograms by 2015, followed by a notable drop in 2016. Between 2017 and 2023, the imports have oscillated, showing a minor decline overall. As of 2023, the volume was 24.56 thousand kilograms. The year-on-year variation from 2021 to 2022 was minimal, at -0.12%, and the trend continued with a similar decrease from 2022 to 2023. The compound annual growth rate (CAGR) over the last five years has been relatively stable at -0.1%.
Looking forward, the forecast data suggest a gradual decline in the import volumes, with an expected CAGR of -0.1% up to 2028. This indicates a diminishing trend, however slight, in the import of these articles over the next five years.
Future trends to watch for will include any shifts in global economic conditions and market demand for luxury materials, as well as geopolitical factors that could either disrupt or enhance trade flows. Additionally, technological advancements in artificial stone production and substitute materials may influence import patterns.
