The Philippines" market for turquoise, categorized under precious stones excluding diamonds, shows dynamic shifts in trade volume and pricing. In 2024, the country exported a significant 8,490 kg of unworked precious stones, generating $10,000. This represents a substantial rise from the 1,625. 6 kg exported in 2022, valued at $2,920, marking a growing demand and efficiency in the export sector. Conversely, imports reflect a nuanced trend. In 2024, 3,001. 82 kg of unworked precious stones were imported, costing $46,017, indicating a sharp increase from just 294. 366 kg in 2023 valued at $43,451.

This suggests a heightened need for raw turquoise for local processing or resale. The surge in import volume highlights the Philippines" strategic pivot towards sourcing larger quantities, possibly to meet domestic demand or re-export after value addition. Price fluctuations are evident: from 2022 to 2023, the import price per kg of unworked stones decreased significantly, showing a competitive market environment. Meanwhile, further worked stones saw a varied import trend, with a notable 442,357. 93 carats imported at $119,523 in 2024, yet a drop from 2023"s 704,515. 84 carats at $97,829. This suggests a strategic focus on quality over quantity or shifts in market demand for finished gemstones. These trade dynamics underscore the Philippines" evolving role in the global gemstones market.

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