Final answer:
The statement that precious gems are an important export of Latin America is true. Latin America has rich deposits of minerals, including precious gems and silver, which contribute significantly to its economy.
Step-by-step explanation:
Precious gems are indeed an important export of Latin America and the statement is True. Latin America is known for its rich deposits of various minerals and the region earns significant revenue from the sale of these natural resources. For instance, countries like Bolivia are famous for their mineral wealth, including large deposits of silver and tin.
The famous silver mines of Potosà in Bolivia have been historically significant and continue to be exploited. While Latin America does export a variety of minerals, oil, and agricultural products, precious gems are also among the valuable resources that contribute to the region's economy.