Economy

Gem, jewellery exports dip 9 per cent to $2.96 billion in January on lower demand

Our Bureau Mumbai | Updated on February 11, 2020 Published on February 11, 2020

Gems and jewellery exports continued to fall, declining by 9 per cent to $2.96 billion in January 2020, against $3.26 billion in the year-ago period on lower demand.

In rupee terms, it declined 8 per cent to ₹21,147 crore (₹23,100 crore) in January, according to government data.

Cut and polished diamond exports were down 6 per cent at $1.65 billion ($1.75 billion) while in rupee terms they dipped to ₹11,757 crore (₹12,366 crore). Gold jewellery exports were down 3 per cent at $889.10 million.

Depressing yearly trend

Gross gems and jewellery exports declined 6 per cent to $31 billion in the first 10 months of this fiscal ($32 billion). In rupee terms, they fell 5 per cent to ₹2.16-lakh crore (₹2.27-lakh crore).

Cut and polished diamond exports decreased 17 per cent to $16.32 billion ($20 billion) while in rupee terms they fell 16 per cent to ₹1.15-lakh crore (₹1.37-lakh crore).

However, gold jewellery exports increased 4 per cent to $10 billion ($9.80 billion) while silver jewellery exports jumped 78 per cent to $1.22 billion ($687 million). In rupee terms, the former was up 5 per cent at ₹71,981 crore (₹68,341 crore).

Imports decline

The gross imports of gems and jewellery in the last 10 months were down 6 per cent at $20 billion ($22 billion).

Rough diamond imports declined 16 per cent to $11 billion ($13 billion) while cut and polished diamond imports increased 9 per cent to $1.22 billion ($1.12 billion).

Published on February 11, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.