The exports of gems and jewellery saw a dip of 4.8% to $22.43 billion during April- November this year compared to exports of $23.56 billion reported in the same period last year. According to the Gems and Jewellery Export Promotion Council (GJEPC) this fall in exports is owing to demand slowdown in major markets, including the US.
The shipments of gold jewellery during April- November 2017-18 declined by 3.18% to $6 billion. The export of gold medallions and coins contracted by about 50%. However, silver jewellery exports went up 18.5% to about $3 billion during the period. The shipments of cut and polished diamonds reported a growth of just 1.3%.
On the other hand, import of rough diamonds rose 5.34% to about $12 billion in April-November, while import of gold bars too increased by 5% to $3.24 billion.