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India’s Diamond and Jewellery Exports Remain Slow in May

2019-06-26 Source:https://gjepc.org/index.php

Exports of cut and polished diamonds from India dropped by 15.12% year-on-year during the month of May 2019, while gold jewellery (plain and studded) exports registered a decline of 14.27% y-o-y during the same month, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC).

Exports of cut and polished diamonds stood at US$ 1.88 billion, a decline of 15.12% as compared to the US$ 2.21 bn exported in May 2018. Rough imports dropped during the month by 35.42% to US$ 1.0 billion as compared to US$ 1.55 billion imported during the previous May. In volume terms also, rough imports fell from 16.92 mn carats during May 2018 to 11.08 mn carats in May 2019.

Imports of cut and polished diamonds rose by 4.76% to US$ 94.44 mn in May 2019 from US$ 93.08 mn in the same month a year earlier.

Exports of gold jewellery (both studded and plain) during the month fell by 14.27% to US$ 1.03 billion from US$ 1.21 billion a year earlier. Exports of silver jewellery rose to US$ 72.81 million in May 2019 as compared to US$ 40.63 million in the same month last year.

Coloured gemstone exports rose to US$ 40.53 million in May 2019 as compared to US$ 36.78 million exported during the same month a year earlier.

Gross exports across all segments of gems and jewellery registered a decline of 9.11% dropping from US$ 6.87 billion during April - May 2018 to US$ 5.82 billion in the same period during the current year. Imports across the sector during first two months of fiscal 2020 were down 14.74% from US$ 4.96 billion last year to US$ 4.23 billion this year.

Polished diamond exports during April – May 2019 were down 16.32% to US$ 3.52 bn as against the US$ 4.21 bn exported over the same months last year, while imports of polished diamonds fell by 17.05% to US$ 172.07 million as compared to US$ 207.45 million for the same period of the previous year.

During the fiscal year to date, import of rough diamonds showed a decline of 20.27% to US$ 2.44 bn from US$ 3.07 bn a year earlier. In volume terms, imports fell by 22.87% from 32.33 mn cts in April – May 2018 to 24.93 mn cts in the same period in the current fiscal.

In April – May 2019, exports of gold jewellery (both plain and studded) dipped to US$ 2.02 bn as against US$ 2.10 bn during the first two months of the previous fiscal.

Exports of synthetic stones during April – May 2019 were US$ 62.65 mn as compared to US$ 34.48 mn during the comparative period a year earlier.

Exports of silver jewellery rose 79% to US$ 158.58 million, and Coloured Gemstones exports increased by 10.2% at US$ 60.77 million in April – May 2019.

From GJEPC
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