Shipments of jewellery, goldsmiths’ and silversmiths’ wares were down 13.2 per cent year on year during the month in review compared to a 23 per cent and 29.7 per cent decline in July and June, respectively. Exports dropped by as much as 40 per cent in May.

From January to August, jewellery exports sank 25.7 per cent year on year, government data further revealed. 

Overall exports were down 2.3 per cent in August compared to the same period last year and 5.8 per cent in the first eight months of 2020.

A government spokesman commented, “Merchandise exports continued to fall moderately year on year in August as the global economy remained weak. Exports to the US and the EU posted narrower declines alongside the gradual economic recovery in these markets.”