Sales at Myanmar’s jade expo lower than last year
The overall numbers are big:
- 6,561 pieces of jade exhibited
- 5,092 sold
- 326 gems, among them rubies and sapphires, showcased
- 105 gems sold
- $612.4 million in total sales
- Nearly 2,000 local entrepreneurs and 200 foreign business people in attendance
However, results from the 2017 Jade and Gems Emporium are 3 per cent lower than last year’s in terms of the amount of cash the event made, says Deal Street Asia.
The 54th edition of the expo, which is organized by Myanmar’s Ministry of Natural Resources and Environmental Conservation and the Jade and Gems Emporium Central Committee, was held from August 2-11 in Nay Pyi Taw.
Besides rough jade and gems, the trade show included cut and polished gemstones, jewelry, jade carvings and gemstone pictures that were sold in euros through an open tender system.
Myanmar -or Burma- has a +$31 billion jade industry, which is the source of nearly all of the world’s finest greenstone and it’s a magnet for foreign capital, with China being its number one buyer.
Nearly half the Southeast Asian country's GDP comes from jade mining.