Esmeralda English Version ed

MAIN ARTICLE
Graph No. 1 Rough Emerald Exports (carats)
Period 2011- 2023
Table No. 2 Emerald Export
Historical Data (carats)
MAIN ARTICLE
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Carats
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
–
2,948,837
2011
807,507
2,260,137
1,782,059 1,907,407
1,551,549 1,638,451
1,394,057 1,318,381
543,024
Regarding exports of emeralds in
carats, the export results for 2023
show a slight decrease of -4% compared
to the results achieved in 2022,
going from 1.589 million carats in
2022 to 1.526 million carats in 2023.
In monetary terms, this variation
in carats resulted in an increase of
11.3% in sale value, going from USD
34,154,391 to USD 37,999,815.
When reviewing the value of each
carat exported, in 2023 it was traded
on average at USD 25/carat
compared to USD 21/carat in 2022.
Among the reasons that could explain
this variation are aspects such
as the quality of the gem, trading
conditions and the volatility of the
Colombian peso against the dollar,
which, according to data from the
Banco de la República as of January
2024, the peso was revalued at a rate
of 20.54% on December 31, 2023,
considering that at the end of 2023
it closed at $3,822.05 and in 2022 it
closed at $4,810.20.
In the history of exports, we see
that since 2011 exports of rough
emeralds have had a variable behavior,
with some stability over the last
three years despite the pandemic between
2019 and 2021.
2,083,134
1,589,256
1,526,412
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
In the case of set emeralds, 2023
saw a recovery in sales with a positive
variation of 416%, going from 326 carats
sold in 2022 to 1,680 carats sold
in 2023. When reviewing the variation
between the sale value of set carats
between 2021 and 2022, it went
from USD 137/carat in 2022 to USD
95/carat in 2023.
Regarding cut emeralds, in 2023
the export value was 147,360 carats,
representing a 37% decrease. As for
the sale value of cut carats, it is observed
that in 2022 they were sold
on average at USD 379/carat and
in 2023 they were sold on average
at USD 981/carat.
In this regard, Fedesmeraldas supports
training and the transformation
of cut emeralds through an
agreement with Sena (see Sena article)
with the aim to train merchants
and cutters in a variety of techniques
that improve gem transformation.
Record exports
Emerald exports expressed in
monetary terms (dollars) during
2023 reached the figure of USD
182,723,292 with a 49% growth compared
to sales in 2022, which were in
Year
Rough
carats
Cut
carats
Set
carats
2011 2,948,837 26,555 426,958
2012 807,507 20,062 382,993
2013 2,260,137 30,053 334,188
2014 1,551,549 11,334 403,667
2015 1,782,059 8,564 376,487
2016 1,638,451 2,039 359,864
2017 1,394,057 606 278,246
2018 1,907,407 306 249,788
2019 543,024 396 286,423
2020 2,083,134 4,114 65,587
2021 1,318,381 9,721 234,157
2022 1,589,256 326 232,928
2023 1,526,412 1,680 147,360
Variation
2011-2012 -73% -24% -10%
2012-2013 180% 50% -13%
2013-2014 -31% -62% 21%
2014-2015 15% -24% -7%
2015-2016 -8% -76% -4%
2016-2017 -15% -70% -23%
2017 - 2018 37% -49% -10%
2018-2019 -72% 29% 15%
2019-2020 284% 938% -77%
2020-2021 -37% 136% 257%
2021-2022 21% -97% -1%
2022-2023 -4% 416% -37%
the order of USD 122,514,753, as
can be seen in the graph below.
According to the reported export
data, rough emeralds presented a
positive variation, with an increase
of 11.3% from USD 34.15 billion in
2022 to USD 37.99 billion in 2023,
the best result achieved in the history
of rough carat sales.
Set emeralds also had positive results
during 2023, going from USD
44,636 in 2022 to USD 159,649 in
2023, with a variation of 258%.
In the 2023 period, cut emeralds
reached total sales of USD
144,563,828, a figure that represents
a variation of 64%, since in 2022 the
sales achieved in cut emeralds were
USD 88,315,726.
Regarding totals (the sum of figures
exported in dollars of the three
types of emeralds), there is a negative
variation of 5%, going from exporting
USD 129,586 million in 2021 to
USD 122,514 million in 2022.
The role of Fedesmeraldas
The National Emerald Federation
of Colombia, in its role as
administrator of FNE resources
to represent and defend the industry,
guarantees that the resources
from emerald parafiscal collection
are invested in projects that impact
the emerald industry, thus ensuring
that emerald-producing communities
benefit from the different
segments of the value chain. This is
achieved by developing commercial
and promotional projects in which
both exporting entrepreneurs and
local merchants benefit by participating
in international trade fairs
using the Colombia Pavilion as an
exhibition showcase to attract
numerous visitors to Colombian
emeralds, while promoting product
sales (Objective No. 1 of Law 488
of 1998 – Art. 101).
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