"Rubies of the East: Myanmar's Lucrative Gemstone Industry Threatens to Shine Brightly Amidst Turmoil. Myanmar, a country long plagued by turmoil and conflict, has found an unlikely source of stability in its rich gemstone deposits. The Southeast Asian nation is the world's leading producer of rubies, accounting for a staggering 90% of global supply, with the picturesque Mogok region serving as the epicenter of this precious gemstone trade. However, as the country struggles to recover from years of military rule and economic sanctions, concerns are growing about the sustainability of this lucrative industry and its impact on the local community."
Myanmar relies heavily on gemstones as a major source of revenue, and produces as much as 90% of the world's rubies, primarily from the Mogok region.
