Libya"s gemstones market is witnessing intriguing shifts, driven by historical reliance on oil exports and a recent diversification toward minerals and gemstones. From 2017 to 2019, Libya"s mineral exports surged from $1. 6 million to $14 million, revealing a growing interest in non-oil sectors. Concurrently, stone and glass exports, a category encapsulating gemstones, saw fluctuations, peaking at $1. 68 billion in 2017 before stabilizing around $1. 2 billion in 2019. Despite these promising export figures, Libya"s dependency on oil remains prominent, with fuel exports making up over 94% of merchandise exports in recent years. This reliance poses both a challenge and an opportunity.

Diversifying into gemstones can mitigate economic vulnerabilities linked to oil price volatility. For B2B stakeholders, the gemstones market, including products like Agate, Diamond, and Turquoise, could become a pivotal sector for investment and innovation. Globally, the demand for unique gemstones such as Charoite and Tanzanite is rising, yet Libya"s market share remains underdeveloped. A comparison with neighboring regions indicates potential growth if strategic partnerships and trade facilitation measures are implemented. The need for better infrastructure, especially in power and transport, can hinder growth but also highlights areas for investment and development. Aritral. com, an AI-driven B2B platform, can play a significant role in overcoming these barriers. By offering services like Product Listing and Global Sales Assistance, Aritral simplifies international trade in commodities, including gemstones.

Businesses can leverage their AI-Powered Marketing and Profile Management services to enhance visibility and connect directly with global buyers, fostering growth in Libya"s emerging gemstones sector. As the market seeks stability beyond oil, integrating platforms like Aritral can catalyze Libya"s journey into a diversified export economy.