Sri Lanka is highly famous for its capacity of producing high-quality gemstone and catering to the unprecedented demand of gem lovers.
Gem And Jewelry Industry – Sri Lanka
Over the centuries, Sri Lanka has emerged as one of the significant producers of all types of gemstone and minerals. Out of 200 minerals, 75 varieties of gemstones are available in Sri Lanka.
In Sri Lanka, the significance of these minerals can be assumed from the fact that the overall economy of Sri Lanka is somewhere lies upon these precious minerals.
The main economy of Sri Lanka heavily relies upon the three main activities: mining, manufacturing, and trading.
The gem and jewelry industry of Sri Lanka provides jobs to a huge section of Sri Lanka’s population. As per studies more than one lakh workers currently associated with gem and mineral industry of Sri Lanka. So, this industry has a deep impact on the economy of the country
The mining activities are mainly perform by using the traditional approach by the local workers. The mining activities are alluvial deposits, shallow pits or deeper shaft type pits and tunnels.
The main areas where these gem mining activities are perform: Badulla, Ratnapura, and Monaragala.
The manufacturing activities comprise jewelry manufacturer and gem cutting. Gem cutting refers to molding the gem in a particular shape so that it appears more attractive and demanding.
Aside from this, jewelry has also been molded and polished to make it look more desirable. It is estimated as per a study that there are 3000 thousand manufacturing units spread around the city.
The third and most important activity is the trading of gemstones. It mainly comprises four activities importing, exporting, wholesaling and retailing.
As per the recent studies that the aggregated value of gem and jewelry trade is 55 million as of now and it continuously rises upward.
Categories of sri lankan market as follows :-
The Sri Lankan gem market consumption can be divides into the three categories domestic, tourist and export.
Apart from the domestic consumption of these gemstones and jewelry, people all across the globe are quite ready to purchase gems of Sri Lanka. Hence, tourists from all around the world visit Sri Lanka occasionally. They purchase gems and jewelry of different designs and types.
Due to its extremely rich quality, Sri Lankan gem or jewelry have been exported all across the globe. And, going by the current export figure, it would not be an exaggeration to state that in upcoming years this trend will go all the way up only.
Although, Sri Lanka is famous for contributing all types of minerals to the world, yet the corundum and sapphires find in Sri Lanka are classified as the best types of sapphires (yellow sapphire, blue sapphire, ruby) and corundum discovered all around the world.
In the context of the Sri Lankan economy, gemstones and jewelry will have a valuable impact in the upcoming years. Its facilitate employment and keeping the economy steady.
As far as the global context is concerned, the island of mineral Sri Lanka will continue to be the most desirable place to look for sapphires and diamond.