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).

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Published on February 11, 2020
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