A new report on the gemstone and jewelry industries reveals a treasure trove of interesting findings, including the revelation that when calculated together, jewelry sales figures in China and India top those in the United States, the single largest jewelry market in the world, Jewelry News Asia reports cited by Israelidiamond.co.il.
The recently released report, entitled "Global Gems and Jewelry Market Forecast & Opportunities, 2018", also revealed that India is the largest importer of rough diamonds and the largest exporter of polished diamonds, that China is the world's largest consumer of platinum, and that India and China are the top two global consumers of gold. Other Far East nations like Vietnam and Thailand are also enthusiastic consumers of gold, according to Jewelry News Asia.
The report's publishers, TechSci Research, also predict that on the strength of rising disposable income in the Middle and Far East the international market for jewelry will continue to crow at a yearly rate of about 5%, and will amount to $272 billion in annual business by 2018.
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