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Albanians imported 50 million euros of precious stones for 10 months!

2024-11-21 11:20:27Biznes SHKRUAR NGA REDAKSIA VOX
Albanians imported 50 million euros of precious stones for 10 months!
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According to INSTAT data, during 2024, i.e. until October, 4.9 billion ALL of natural pearls, precious stones and jewelry were imported.

This figure has marked an increase of 37%, compared to the ten months of 2023, or about 1.3 billion ALL more.

The figures show that throughout the months of this year, the import of natural pearls and precious stones has registered a historical record.

The latest foreign trade data for the month of October this year show that we have a new record for the import of pearls and precious stones.

According to the indicators analyzed by "Scan Intel", the import value for the month of October 2024 for the category " Natural pearls, precious stones, jewelry, coins " reached about 858 million ALL, while a year ago it was recorded at 467 million ALL .

This value for October marks a historic record since January 2005 when foreign trade figures begin.

But which are the countries from where Albania buys these products?

Italy and Turkey account for almost 90% of the share of imports of precious stones and pearls during the January-October period of this year.

Meanwhile, France, China, the United Kingdom, Belgium and the United Arab Emirates are among the top ten destinations from which these products come.

There are several reasons why the import of pearls, stones and jewelery is increasing at a rapid rate. First is consumer demand.

Secondly, the increase in demand in certain months of the year may also be a consequence of the fear of a possible devaluation of monetary assets, which shifts the interest of consumers to invest their savings in valuable items, such as expensive jewelry, which were resist economic crises.

Thirdly this can be related to seasonality and holidays. According to foreign trade data published by INSTAT, the demand for buying precious stones or jewelry formed with them is higher during the holidays or during the summer. 


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