Friday, December 6, 2019
Home > Economy > KSA captures 20 percent of global precious stone trade

KSA captures 20 percent of global precious stone trade

Saudi Arabia has captured 20 percent of the global trade and business in precious stones, a report released by the Saudi Press Agency said.
The global volume of trade in precious stones is estimated at $25 billion (SR93 billion) annually of which one-fifth (or $5 billion) goes to the Saudis, the report quoted experts as saying.
The number of precious stones currently traded at the global level is reaching 2,000 of which 200 are used to inlay jewelry, where diamond is the most popular stone used. Diamonds come in many shapes and sizes, and are found along river banks and rocky mountains, according to the experts.
Zuhair Nawab, head of the Saudi Geological Survey, said it was also possible to find diamonds in old and sedimentary rocks of the Kingdom. “This possibility, however, necessitates more geological surveys to ascertain their availability,” he added.
Work is under way to discover diamonds in the Kingdom, he said.
Speaking on the healing properties of precious stones, head of the National Center for Complementary Medicine Dr. Abdullah Al-Baddah said: “No scientific evidence exists to prove the viability and effectiveness of treatment with precious stones.”