A ruby is a beautiful pink or red colored gemstone whose quality is determined by its clarity, color, carat, and cut. The most valuable and brightest shade of red ruby is called pigeon blood or blood-red ruby, which commands a high premium over other rubies of same quality, like the ones produced in Burma. Rubies are produced in numerous countries, but rubies from Burma stand out, as Burma has been the main source for more than a century. In 2005, global ruby production increased by 10,000 kg from the 5000 kg of rubies produced in 1995. Although Burma produces high-quality rubies, the United States imports the majority of its rubies from Thailand.
The Top 6 Exporters of Rubies to the United States
From 1996 to 2006 the United States imported about 25,964,842 carats of uncut ruby from Thailand. Thailand is famous for being the home of many uncut gemstones, with ruby topping the list. In the United States, the average value for Thailand ruby is $20 per carat; therefore, the amount of ruby imported from Thailand is worth over $519 million.
The best quality rubies are mined in on barren land in India's Karur region. Neighboring towns like Paramatti and Kangayam also have numerous ruby mines. Rubies mined in Madiken are lighter and of high quality. The United States imported about 15,651,789 carats of ruby from India. The average market value for ruby from India is $4 per carat, which means that the country earned over $62 million from the United States.
Hong Kong has been one of the top sources of ruby imports in the United States and Thailand for years. The United States imported about 2,336,332 carats of ruby from Hong Kong between 1995 and 2005. The cost value of rubies from the Hong Kong is $34 per carat.
The amount of rubies imported by the United States from Switzerland has been increasing gradually in recent years. In fact, about 9.6% of rubies in 2016 came from Switzerland. Valued at $459 per carat, the rubies from Switzerland are the best quality and the most expensive rubies in the world. The United States imported 417,674 carats of rubies from Switzerland, which earned the country over $191 million.
Rubies from Germany are the third most expensive rubies in the world, after Switzerland and Burma. Rubies from Germany are valued at $50 per carat, and the United States is a major importer. The United States imported about 352,801 carats from Germany, valued at $17.6 million.
The city of Mogok in Burma has been a primary source of high quality rubies for centuries. In fact, during the early 1900s Burma became the world's largest producer after rubies were discovered in the Mong Hsu mines. Before importation of gemstones from Burma was banned in 2003, the United States was a major importer of rubies from Burma. The United States imported 112,304 carats of rubies from Burma, which have a value of $331 per carat.
Uses of Rubies
Rubies are a famous gemstone used extensively in jewelry. Rubies can be used in earrings, necklaces, rings, and bracelets. Jewelry designers add rubies to many rings and pendants as centerpieces. Rubies can be secondary stones, which help complement other gemstones like diamonds.
Ruby Imports By the US
|Weight in Carats from 1996 to 2006