Pakistan’s Gem Exports Rise By 67.4% in 9MFY21

According to the data, the exports of jewelry surged by 103.4%, worth $6,544 thousand, compared to worth $3,216 thousand of the same period of last year.

A craftsperson checks a gemstone at a workshop in Peshawar. (AFP)

Pakistan’s gem export grew by 67.38% during the first nine months of the current fiscal year (9MFY21).

Gem exports reached up to $5,850 compared to the exports worth $3,495 of the corresponding period of last year.

This was disclosed by the Pakistan Bureau of Statistics (PBS).

Gemstones at a shop near Lahori Gate. (ABDULLAH KHAN PHOTOGRAPHY)

According to data, the export of jewelry surged by 103.4%, worth $6,544 thousand, compared to $3,216 thousand of the same period of last year.

Earlier in March this year, the Chairperson of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Qurban Ali, said that the country could lift its annual gemstone exports to $32 billion to strengthen its economy.

Ali emphasized that the gemstone exporters must go for innovation and embrace modern technology to enhance the value of precious and semi-precious stones to improve competitiveness in the international market.

A trader examines raw gemstones at a workshop in Peshawar. (AFP)

“Pakistan is home to precious and semi-precious stones, and to tap the complete potential, we need to build a technology and innovation-driven industry to attract foreign investors from the European Union (EU) and the United States,” he said.

Ali believed that the setting up of gem testing labs was the need of the hour to support Pakistan’s industry in the international arena.

Employees cut and shape gemstones at a workshop in Peshawar. (AFP)

The official said that the chamber would involve the authorities in launching the construction of gem testing laboratories in major cities of Pakistan.

Ali said that precious stones were mainly found in nearly inaccessible territories of hilly regions in the south and north of the country.

A miner somewhere in the north of the country. (Hugh Brown)

“Most extensive ruby deposits are located in the Hunza valley of Gilgit-Baltistan,” he said.

Ali pointed out that after Myanmar, Hunza was the only other region in the world that had deposits of the blood-red ruby.

Ruby from Hunza, Gilgit-Baltistan.

He added that some of the finest emeralds in the world were being mined in the Swat District of Khyber Pakhtunkhwa (KPK).

Emerald from Mingora, Swat Distrcit, KPK.

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