India’s Polished Exports Dip in January; Jewellery Exports Up

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

Exports of cut and polished diamonds from India dropped by 16.07% year-on-year during the month of January 2019, while gold jewellery (plain and studded) exports rose 32.35% y-o-y during the month, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC).

Exports of cut and polished diamonds stood at US$ 1.75 billion, a decline of 16.07% as compared to the US$ 2.08bn exported in January 2018. Rough imports dropped during the month to US$ 857million as compared to US$ 1,436.67 million imported during the previous January. In volume terms, also rough imports fell from 13.29mn carats during January 2018 to 8.36mn carats in January 2019.

Imports of cut and polished diamonds were down to US$ 86.32mn in January 2019 from US$ 136.43mnin the same month a year earlier.

Exports of gold jewellery (both studded and plain) during the month were up by 32.35% to US$ 866.99 million from US$ US$ 655.05 million a year earlier. Exports of silver jewellery dropped to US$ 104.38 million in January 2019 as compared to US$ 146.73 million in the same month last year.

Coloured gemstone exports declined marginally to US$ 45.28 million in January 2019 as compared to US$ 47.49 million exported during the same month a year earlier.

Gross exports across all segments of gems and jewellery registered a decline of 4.20% dropping from US$ 33.89 billion during April 2018-Jan 2019 to US$ 32.47 billion in the same period a year earlier. Imports across the sector during the same period were down 16.33% from US$ 26.18 billion last year to US$ 21.93 billion this year.

Polished diamond exports during April 2018 – Jan 2019 were up 1.76% to US$ 19.61bn as against the US$ 19.27bn exported over the same months last year, while imports of polished diamonds fell by 40.37% to US$ 1.12billion as compared to US$ 1.89billion for the same period of the previous year.

During the fiscal year to date, import of rough diamonds showed a decline of 16.74% to US$ 12.93bn from US$ 15.53bn a year earlier. In volume terms, imports fell by 12.84% from 154.49 mncts in April 2018 – Jan 2019 to 134.65 mncts in the same period in the current fiscal.

In April 2018 – Jan 2019, exports of gold jewellery (both plain and studded) rose to US$ 9.85bn as against US$ 7.75bn during the first ten months of the previous fiscal.

Exports of synthetic stones during April 2018 – Jan 2019were US$ 173.23mn, with synthetic diamonds (HS 71049010) accounting for US$ 167.98mn as compared to US$ 169.55mn during the comparative period a year earlier.

Exports of gold medallions & coins declined by 62.2% to US$ 686.51 million in the ten-month period, while silver jewellery exports dropped by 78.8% to US$ 690.94 million, and Coloured Gemstones exports were down by 3.89% at US$ 320.12 million in April 2018 – Jan 2019.

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