Saba Javed

Pakistan’s artificial jewellery exports surged by 83.68% to $0.242 million during February 2023 compared to $0.132 million during February 2022, according to the Pakistan Bureau of Statistics (PBS). Artificial jewellery exports were recorded at $5.560 million during the first eight months (July-February) of the current fiscal year (2022-23) against the exports of $5.368 million during the corresponding period of the previous fiscal year (2021-22), showing an increase of 3.58%.

Currently, Pakistan is the 46^th largest exporter of jewellery in the world. The main jewellery export destinations of Pakistan are the United States, United Arab Emirates, United Kingdom, Canada, Qatar, Germany, Australia, Norway, and China.  The fastest-growing export markets for Pakistan’s jewellery are Qatar, Australia and Norway.  On year-on-year (YoY) basis, artificial jewellery exports increased by 83.68% at $0.242 million during February 2023 compared to $0.132 million during the corresponding month of last year.

Source: PBS website/WealthPK research

Exports of artificial jewellery decreased by 46.10% on month-on-month (MoM) basis during February 2023 from $0.449 million during January 2023.  On the other hand, exports of gems were recorded at $5.549 million during the first eight months of FY23 against the exports of $5.272 million during the corresponding period of the last fiscal year, showing an increase of 5.25%.

On MoM basis, exports of gems were recorded at $0.309 million during February 2023 compared to $0.574 million during January 2023, showing a decrease of 46.17%.  On YoY basis, gems exports decreased by 3.47% during February 2023 compared to $0.320 million during February 2022.

Pakistani jewellery is recognised for its artistry and its sensational designs that make it a popular choice throughout the world. In the past, Pakistani gemstones glittered at the 4th China International Import Expo (CIIE), and were appreciated by Chinese visitors impressed by the exquisitely designed high-end jewellery from Pakistan. 

The exports of Pakistan’s precious stones to China, including ruby, sapphire, emerald and semi-precious stones, achieved a total weight of nearly 500,000 carats, indicating a rise in demand for gemstones from Pakistan in the world’s largest market.

Credit: Independent News Pakistan-WealthPk