$1 bn gem export to UAE, Bahrain in 2006

17 Dec '05

2 min read

Brazilian gems and jewels makers are expected to gain by 3.3 percent over 2004 through exports by the end of the year.

According to Brazilian Institute of Gems and Precious Metals (IBGM), the estimated foreign sales would be worth US $766 million this year, while last year they reached $741 million mark.

The sector's target for 2006 is US $1 billion.

Jewellery and gem sector includes producers of rough gems, cutters, products and artefacts made out of stones, gold in bars, threads and plates, ready jewellery, plated jewellery and costume jewellery made out of common metals, among other products for industry.

Arab countries, especially Unite Arab Emirates and Bahrain are among the main consumers of Brazilian gems.

In 2004 the United Arab Emirates purchased US$ 7.5 million from Brazil, 81 percent more than in 2003, and the Arab country is the second main importer of Brazilian cut diamonds, the fifth main buyer of rubies, sapphires and emeralds, and the eighth main buyer of manufactured jewellery.

In the case of Bahrain, the country was the fourth main market for Brazilian ready jewels.

As for the domestic market the sales are expected to reach US$ 1.9 billion this year (in current figures), with growth of 5 percent over 2004.

The US is the main market for Brazilian jewellery as it is also the largest importer of jewellery.

According to Marketing Manager at the IBGM, Natália Salomão, the partnership made six years ago between Brazilian Export and Investment Promotion Agency (Apex) is one of the significant aspects promoting the sales.

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