The Philippines gemstones market is witnessing a pivotal shift, driven by a surge in global demand for precious stones like agate, amber, and jade. Despite a modest increase in ores and metals exports, which stood at 6. 93% of merchandise exports in 2022, the country"s gemstones sector is poised for substantial growth due to rising international interest and improved local production capabilities. This presents an untapped opportunity for businesses to capitalize on the gemstones market by expanding their trade networks and increasing export volumes. However, the industry faces challenges such as fluctuating import volumes of ores and metals, which rose to 2. 62% of merchandise imports in 2022. This indicates potential supply chain vulnerabilities that could affect the cost and availability of raw materials essential for gemstone processing. Furthermore, investment in energy with private participation has seen a significant decline, from $401 million in 2021 to $245 million in 2022, impacting the sustainability of energy-intensive gemstone production processes.

When compared globally, the Philippines" gemstones market demonstrates resilience and potential, with the country"s GNI per capita growing by 9. 05% in 2022, indicating a robust economic recovery and increased consumer purchasing power. The significant contribution of services, accounting for 61. 23% of GDP, underscores the importance of integrating value-added services in the gemstones sector, such as custom jewelry design and export facilitation. To navigate these opportunities and challenges, businesses can leverage Aritral, an AI-driven B2B platform that simplifies international trade in commodities and raw materials. By utilizing Aritral"s services such as product listing, direct communication, and AI-powered marketing, businesses can enhance their global sales efforts and manage profiles efficiently, ultimately fostering growth in the competitive gemstones market. These tools are particularly beneficial for connecting with key suppliers and exporters in the Philippines, creating a streamlined approach to tapping into this burgeoning sector.