Colombia: Synthetic Gemstones Market 2024

Synthetic Gemstones Market Size in Colombia

In 2022, the Colombian synthetic gemstones market decreased by X% to $X, falling for the third year in a row after two years of growth. Overall, consumption continues to indicate a dramatic curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Synthetic Gemstones Production in Colombia

In value terms, synthetic gemstones production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight reduction. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Synthetic gemstones production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Synthetic Gemstones Exports

Exports from Colombia

In 2022, overseas shipments of synthetic or reconstructed precious or semi-precious stones increased by X% to X kg, rising for the third year in a row after two years of decline. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X kg. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic gemstones exports rose modestly to $X in 2022. In general, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for synthetic gemstones exports from Colombia, accounting for a X% share of total exports. Moreover, synthetic gemstones exports to the United States exceeded the volume sent to the second major destination, Thailand (X kg), threefold. Peru (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Peru (X% per year).

In value terms, the United States ($X) remains the key foreign market for synthetic or reconstructed precious or semi-precious stones exports from Colombia, comprising X% of total exports. The second position in the ranking was held by France ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the average synthetic gemstones export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price showed a perceptible setback. The growth pace was the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Synthetic Gemstones Imports

Imports into Colombia

For the fourth consecutive year, Colombia recorded decline in supplies from abroad of synthetic or reconstructed precious or semi-precious stones, which decreased by X% to X kg in 2022. Overall, imports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, synthetic gemstones imports contracted notably to $X in 2022. Over the period under review, imports continue to indicate a significant decrease. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X kg) was the main supplier of synthetic gemstones to Colombia, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%.

In value terms, China ($X) constituted the largest supplier of synthetic or reconstructed precious or semi-precious stones to Colombia.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%.

Import Prices by Country

In 2022, the average synthetic gemstones import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Source: IndexBox Platform

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