Stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set

In 2024, stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set trade exhibited significant decline, with global flows reaching $6,839,265,988 and a three-year compound annual growth rate of +5.5% (five-year: +4.9%). The all-time peak of $8,316,442,599 was recorded in 2022; the current level is 18% below that high-water mark.

Over the 30-year observation window (1995–2024), 59% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is steady (+2.4% acceleration).

The World Trade Flows Characterization classifies stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set as "One-way trade" in the unclassified price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.120). The three largest exporters — United States ($1.7B), Thailand ($936.7M), and Hong Kong ($877.7M) — collectively dominate supply flows. The leading exporter has grown at +23.8% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.141). The three largest import markets are Hong Kong ($1.5B), United States ($1.4B), and Switzerland ($884.8M). The largest importing market sources from 45 different supplying countries.

Estimated substitution elasticity: -17.16. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is United States → Hong Kong at $701.8M, representing 45.8% of the importer's total demand.

The volatility score for stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set is 8 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.