Sri Lanka targets US$1 billion in gem and jewellery exports by 2030

Sri Lanka aims to increase gem and jewellery export earnings to US$1 billion by 2030, with the Export Development Board expecting FACETS Sri Lanka 2027 to support the industry’s expansion.

EDB Chairman Mangala Wijesinghe said the exhibition would help exporters attract international buyers, investors and jewellery brands while strengthening Sri Lanka’s position in global markets.

Speaking at the launch of the 34th edition of FACETS Sri Lanka, Wijesinghe described the event as the flagship exhibition of the country’s gem and jewellery industry and one of Asia’s leading international showcases.

He said FACETS had developed into a globally recognised platform for Sri Lankan gemstones, jewellery, craftsmanship and heritage, while creating business opportunities for exporters, designers, investors and buyers.

Sri Lanka has built a reputation over more than 2,000 years for producing sapphires, rubies, cat’s eyes and other precious stones, Wijesinghe said.

He added that generations of craftsmanship, ethical mining practices and expertise in gem cutting and jewellery manufacturing continued to distinguish Sri Lankan products in the global market.

The gem and jewellery sector generated more than US$300 million in export earnings in 2025. Exports reached nearly US$170 million during the first five months of 2026, an increase of about 8 per cent compared with the same period last year.

Wijesinghe said the EDB would continue to support exporters through market diversification, international trade fairs, business-matching programmes, branding, capacity-building and strategic marketing.

The EDB has co-organised FACETS with the Sri Lanka Gem and Jewellery Association since the exhibition began in 1991. It has also operated a dedicated pavilion for small and medium-sized jewellery manufacturers since 1996.

Wijesinghe said the pavilion had helped hundreds of smaller manufacturers enter export markets and expand their international presence.

FACETS Sri Lanka 2027 will bring together gem dealers, jewellery manufacturers, exporters, designers, collectors and international buyers.

Wijesinghe said the exhibition would help companies form new partnerships, strengthen existing business links and attract investment into the industry.

He said the National Export Development Plan 2026-2030 aimed to improve export competitiveness, diversify products and markets and increase value addition under the Government’s export-led growth strategy.

Sri Lanka is targeting export growth of between 8 and 10 per cent this year. Exports grew by about 7 per cent during the first five months of 2026 despite global economic challenges, Wijesinghe said.

He also invited international buyers and investors attending FACETS to take part in Sri Lanka Expo 2027, which will be held from 14 to 17 January 2027 at the BMICH in Colombo.