India’s Polished Diamond Exports Down 6% Y-o-Y in January, Gold Jewellery Exports Drop 3%

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India’s Polished Diamond Exports Down 6% Y-o-Y in January, Gold Jewellery Exports Drop 3%

India’s gross exports of cut and polished diamonds continued to remain below last year’s levels, declining by 5.67% during the month of January 2020, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Gold jewellery (plain and studded) exports also dropped by 2.96%.

During January 2020, cut and polished diamond exports totalled US$ 1.65 billion (January 2019: US$ 1.75 bn) and gold jewellery (plain and studded) exports stood at US$ 889.10 million as against US$ 916.20 million in the same month a year earlier, the data indicated.

Rough imports during the month also slipped, dropping by 11.02% to US$ 763.09 million as compared to US$ 857.60 million imported during the previous January. In volume terms, however, rough imports rose by 22.82% from 8.36 mn carats during January 2019 to 10.28 mn carats in January 2020.

Imports of cut and polished diamonds rose to US$ 160.29 mn in January 2020 from US$ 86.32 mn in the same month a year earlier.

Exports of rough diamonds totalled US$ 74.46 million in January 2020 as compared to US$ 101.61 mn a year earlier, with volumes at 2.16 mn cts, down from 3.21 mn cts a year earlier. Exports of polished lab-grown diamonds stood at US$ 44.10 mn during the month as against US$ 20.87 mn a year earlier.

Imports of rough lab-grown diamonds stood at US$ 42.43 mn during the month, up from US$ 14.44 mn a year ago, while imports of polished lab-grown diamonds declined to US$ 12.48 mn in January 2020 as compared to US$ 20.38 mn a year earlier.

Exports of silver jewellery rose to US$ 202.47 million in January 2020 as compared to US$ 104.24 million in the same month last year.

Coloured gemstone exports fell to US$ 42.44 million in January 2020 as compared to US$ 45.71 million exported during the same month a year earlier.

For the first nine months of the current fiscal, total gross exports of the gems and jewellery industry stood at US$ 30.66 billion as compared to US$ 39.72 billion in the same period of the previous year, a decline of 5.58%. Imports across the sector during first ten months of fiscal 2020 were down 6.29% from US$ 26.57 billion last year to US$ 20.31 billion this year.

Polished diamond exports during April ’19 – January 2020 were down 16.80% to US$ 16.32 bn as against the US$ 19.61 bn exported over the same months last year, while imports of polished diamonds rose by 8.94% to US$ 1.22 billion as compared to US$ 1.12 billion for the same period of the previous year.

During the fiscal year to date, import of rough diamonds showed a decline of 15.54% to US$ 10.92 bn from US$ 12.93 bn a year earlier. In volume terms, imports fell by 5.62% from 134.66 mn cts in April ’19 -Jan 2020 to 127.10 mn cts in the same period in the current fiscal.

In April ’19 – Jan ‘20, exports of gold jewellery (both plain and studded) rose by 4.17% to US$ 10.21 bn as against US$ 9.80 bn during the first ten months of the previous fiscal.

Exports of rough diamonds totalled US$ 955.36 million in April ’19 – Jan ’20 as compared to US$ 1,031.45 mn a year earlier. Meanwhile, exports of rough lab-grown diamonds stood at US$ 7.12 mn in April ’19 – Jan ’20 as against US$ 11.27 mn in the same period a year earlier. Exports of polished lab-grown diamonds stood at US$ 356.16 mn during the April ’19 – Jan ’20 period as against US$ 172.09 mn a year earlier.

Imports of rough lab-grown diamonds stood at US$ 293.13 mn in the first ten months of the fiscal, up from imports of US$ 114.26 mn a year ago, while imports of polished lab-grown diamonds rose to US$ 86.47 mn in April ’19 – Jan ’20 as compared to US$ 72.93 mn a year earlier.

Exports of silver jewellery rose steeply to US$ 1,223.24 million from US$ 686.69 mn a year ago, and Coloured Gemstones exports dropped to US$ 289.90 million in April ’19 – Jan ’20 as compared to exports of US$ 320.44 mn in the same months a year earlier.

News Source : gjepc

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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