India’s Gem and Jewellery Exports Drop 7.56% In May
India’s Gem and Jewellery Exports Drop 7.56% In May.The month of May was bleak for India’s gem and jewellery trade. Both exports and imports overall took a slip, reports say. Total gem and jewellery exports stood at US$ 3,661.55 million after a 7.56 percent drop on y-o-y basis and the said imports touched US$ 2,556.34 million falling 7.11 percent.
Positivity came from cut and polished diamond exports in the month rising 8.2 percent to US$ 2.21billion. But imports of cut and polished diamonds dropped a huge 61.9 percent to US$ US$ 93.08 mn.
The rough diamond trade was also slow. Imports slipped 16.9 percent to US$ 1.55 bn and volume-wise it dipped to 16.9mn carats (May 2017: 18.1mn carats) on y-o-y basis.
Gold jewellery (both studded and plain) exports was up to US$ 1,164million (May 2017: US$ 523.26mn). Silver jewellery exports declined to US$ 43.17 million (May 2017: US$ 746.6 million).
There was a rise in exports of coloured gemstone, from US$ 30.19 million in May 2017 to US$ 36.19 million in May this year, reports add.
The period between April-May 2018 saw the country’s total gem and jewellery exports dropping 13 percent to US$ 6.80 billion, from US$ 7.81 bn in the same months last year, as per reports.
