Logo of Phnom Penh Post newspaper Phnom Penh Post - Jewellery, gem exports rise to $1.3B

Jewellery, gem exports rise to $1.3B

Content image - Phnom Penh Post
Cambodia earned $ 1.3 billion from the export of jewellery and precious stones in the first six months of this year. Hong Menea

Jewellery, gem exports rise to $1.3B

Cambodia earned $ 1.3 billion from the export of jewellery and precious stones to the international market in the first six months of this year, a remarkable increase from just over $415 million last year, according to a report from the General Department of Customs and Excise.

The report said the Kingdom shipped 25,563 units of jewellery and precious stones during the period, which weighed a total of 36,803kg.

The total exports last year were worth $415.75 million, equivalent to 19,880kg or 47,071 units.

In the first six months of this year, Cambodia also imported jewellery and precious stones worth around $383.32 million, equivalent to 28,844kg or 640,222 units. In the whole of 2019, the total import value was $149.57 million, equivalent to 57,632kg or 1,043,727 units.

Singapore is Cambodia’s largest export market, followed by Thailand, Vietnam, Belgium, Japan, Italy and China. The jewels and precious stones that Cambodia exports include natural pearls or cultured pearls, precious stones, precious metals, metals clad with precious metals, and imitation jewellery and coins.

Thailand, Singapore, Canada, Belgium and Hong Kong are Cambodia’s largest import markets, according to the Cambodian Ministry of Commerce.

The owner of a gold shop near the capital’s Central Market who asked not to be named told The Post on Monday that although Cambodia currently has several mining companies in operation, in general, Cambodia imports gold to satisfy domestic demand.
He said the Kingdom’s jewellery exports are ready-made designed products and gems.

“Since most countries have stopped processing jewellery by hand, a lot of pure gold has been imported into Cambodia to be processed and re-exported as a processed product,” he said.

He added that Cambodia’s precious gems have gained popularity and the country hosts an annual jewellery and gem fair.

Lim Heng, vice-president of the Cambodian Chamber of Commerce, told The Post on Monday that the increase in exports and imports of jewellery and precious stones reflects that Cambodia is a country with improved living standards as well as the ability to process and have a wide market. With this growth, he said the number of companies investing in gold and gem-mining is also growing.

“This growth shows that the Cambodian economy is improving as the number of jewellery and gemstone processing companies is increasing accordingly,” he said.

In Cambodia, there are currently a number of diamond processing companies operating to export to foreign markets, Heng said.

Currently, two large gold mining companies are operating in the northeastern part of the country, including India-based gold mining company Mesco Gold.

Mesco Gold has been licensed to operate in Ratanakkiri province in anticipation of refining gold later this year.

Australian-listed Emerald Resources is developing the Okvau gold project in Mondulkiri province and plans to extract gold for the first time in the second quarter of 2021.

Watch video:


  • Restrictions re-imposed in capital as Covid cases surge

    Amid the ongoing community outbreak of Covid-19, which has shown no sign of subsiding with 750 infections and 10 deaths reported on June 2 alone, the Phnom Penh Municipal Administration has decided to re-impose the suspension of all occupations and business activities deemed as posing high risk of

  • Phnom Penh-Sihanoukville expressway 51% complete

    The construction of the nearly $2 billion Phnom Penh-Sihanoukville Expressway is 51.35 per cent complete and is expected to be finished in 2023, according to Ministry of Public Works and Transport secretary of state Vasim Sorya. Invested in by Cambodian PPSHV Expressway Co Ltd, the first expressway in

  • First 7-Eleven store to open mid-June, ambassador says

    Thai retail conglomerate CP All Pcl will open Cambodia’s first 7-Eleven convenience store in mid-June, Cambodian ambassador to Thailand Ouk Sorphorn told The Post on June 1. The Bangkok-listed 7-Eleven franchise operator, the retail arm of Charoen Pokphand Group Co Ltd, granted CP All (Cambodia)

  • With herd immunity likely in 2022, is Cambodia ready to reopen for tourism?

    The government aims to inoculate 80 per cent of the target population by June next year, giving it a head start among regional peers to reboot the sector but first, it has to do a few things to up its game A sign on a glass

  • US embassy guard gets Covid despite two doses of Pfizer jab

    The Covid-19 tracking commission on June 4 said a security guard at the US embassy in Phnom Penh had contracted the novel coronavirus, despite having received a second dose of the Pfizer-BioNTech shot two weeks ago. Embassy spokesperson Chad Roedemeier confirmed the SARS-CoV-2 infection to The

  • US wants 'full access' to Ream Naval Base

    On June 11, the US embassy's Defense Attaché Colonel Marcus M Ferrara visited Ream Nava Base in coordination with Cambodian officials following the recent approval of Prime minister Hun Sen to allay the concerns on Chinese military presence at the base as raised by US Deputy