Viet Nam’s exports of gems and precious metals reached US$252.2 million in revenue in H1, a year-on-year decrease of 53 per cent, financial news website ndh.vn reported.

The country’s gems and precious metals are exported to 14 countries and territories, including Switzerland, the United States, United Arab Emirates and Japan, as well as the Republic of Korea and France.

The United States has overtaken Switzerland to be the largest consumer of Vietnamese gems and precious metals with turnover of $126.54 million. However, this represented a decline of 27.7 per cent over the same period last year.

The country was followed by Belgium and Japan. Switzerland, the largest importer in the first six months last year, lost its top position, slipping to the fourth position with import value of $19.35 million.

Hong Kong climbed from ninth position last year to fifth this year, importing gems and precious metals worth $18.48 million, a year-on-year surge of 247 per cent.

The United Arab Emirates dropped from third to sixth place, importing gems and precious metals worth $2.86 million, down 89 per cent year-on-year.

Although Taiwan’s import turnover during the period reached just $460,000, it represented an increase of 95 per cent. — VNS