Opal is the national gemstone of Australia. Australian opal has often been cited as accounting for 95-97% of the world's supply of precious opal, with the state of South Australia accounting for 80% of the world's supply. Recent data suggests that the world supply of precious opal may have changed. In 2012, Ethiopian opal production was estimated to be 14,000 kg (31,000 lb) by the United States Geological Survey. USGS data from the same period (2012), reveals that Australian opal production to be $41 million. Because of the units of measurement, it is not possible to directly compare Australian and Ethiopian opal production, but these data and others suggest that the traditional percentages given for Australian opal production may be overstated. Yet, the validity of data in the USGS report appears to conflict with that of Laurs and others and Mesfin, who estimated the 2012 Ethiopian opal output (from Wegal Tena) to be only 750 kg (1,650 lb).
The internal structure of precious opal makes it diffract light; depending on the conditions in which it formed, it can take on many colors. Precious opal ranges from clear through white, gray, red, orange, yellow, green, blue, magenta, rose, pink, slate, olive, brown, and black. Of these hues, the reds against black are the most rare, whereas white and greens are the most common. It varies in optical density from opaque to semitransparent.
Common opal, called "potch" by miners, does not show the display of color exhibited in precious opal.