The import of mounted precious or semi-precious stones to the UAE has shown significant fluctuations over the past decade. In 2013, the imports stood at a peak value, but they dropped by over 35% the following year. This decline was followed by a gradual recovery until 2018, after which imports again experienced a sharp drop. From 2019 onwards, the trend seesawed with moderate gains and declines. In 2023, the import value of these stones reached approximately USD 287.54 million. The yearly growth observed between 2022 and 2023 was modest at around 1.94%.
Looking at the longer-term CAGR, from 2018 to 2023, the average annual growth rate stood at approximately 4.8%. Forecasts predict a promising yet moderate increase with a CAGR of about 1.5% over the next five years, leading to a total growth rate of 7.71% by 2028.
Future trends to watch for include the impact of global economic conditions, changes in luxury market demands, and potential policy shifts affecting the trade of precious stones. Monitoring these factors will be crucial in anticipating the next movements in the import values of mounted precious or semi-precious stones to the UAE.
