INDIA’S POLISHED EXPORTS DROP 12% IN NOVEMBER OVER DIWALI
Data released by The Gem & Jewellery Export Promotion Council (GJEPC) shows that the country’s polished diamond exports fell 12.06% year-on-year, totalling $1.56 billion as “most manufacturing units are shut for a holiday break”, as quoted by Art of Jewellery. Exports of gold jewellery, plain and studded, dropped by 9.06% year-on-year to total $867.59 million.
Overall exports from the gem and jewellery sector totalled $2.64 billion, down from $3.17 billion in November 2017. Overall imports for the sector fell 44.7% in November to $1.63 billion.
Rough imports dropped from $1,948,500 billion in November 2017 to $929,260,000 million in November 2018. In volume terms, rough imports fell from 19,950,000 million carats in November 2017 to 12,690,000 million in November 2018. Imports of cut and polished diamonds also went down – from $186,490,000 in November 2017 to $65,200,000 million in November 2018.
During April-November 2018, overall gem and jewellery exports dropped 3.21% year-on-year to total $26.7 billion, while imports across the sector dropped 12.41% to total $17.71 billion. Polished diamond exports during April-November 2018 went up 6.04% to $16.55 billion, while imports of polished diamonds fell 39.45% to $925.91 million.