International market for SL Sapphires
Sanjeevi Jayasuriya
Sri Lanka Sapphires will have a healthy market internationally and it
is a main contributor in the gem, diamond and jewellery sector.
The gem, diamond and jewellery sector has recorded an overall growth
of 29.11 percent in 2011, earning a revenue of USD 547.24 million.
In comparison with the corresponding figure of USD 423.85 million in
2010, a National Gem and Jewellery Authority senior official told Daily
Nes Business.
National Gem and Jewellery Authority (NGJA) attributed the industry’s
strong performance to the dynamism, flexibility and determination of the
Stakeholders of the gem and jewellery industry and proactive business
friendly policies of the government.
Thailand has become the top buyer of Sri Lankan gems with an import
value of USD 20.81 million, narrowly exceeding the USA, which recorded
USD 20.31 million worth of gems imports from Sri Lanka. Hong Kong,
Switzerland and Italy ranked 3rd, 4th and 5th recording import values of
USD 19.43 million, 7.78 million. and 2.5 million respectively.
Blue Sapphire boasted the pride of place by heading the variety list
as always, proving yet again that Sri Lanka is the principal source for
fine quality natural Blue Sapphires. In 2011 Sri Lanka was successful in
exporting 330,318 carts of Blue sapphire to the value of USD 53.20
million.
Thailand and USA showing almost the same import values of Blue
sapphires from Sri Lanka and Hong Kong, Switzerland and France trailing
behind. It was unanimously agreed that “the coloured gemstone industry”
must leverage on their products” uniqueness, rarity and intrinsic value,
and develop a more focused long-term business strategy to remain
competitive in the luxury goods market by the trade members attending
the mines to market conference held in Jaipur, India in November 2011.
The strengths and opportunities position Sri Lanka well to pursue
further development of the gem and jewellery industry and make feasible
the long-term objective of moving Sri Lanka in to the trading hub of
Asia with a wide variety of gemstones, latest designs and worldwide
trusted customers, he said. |