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India’s Polished Diamond Exports Up 4% in May

Jun 16, 2017

Exports of cut and polished diamonds from India were US$ 2.05 billion in May 2017, a rise of 3.67% as compared to the US$ 1.98 bn in the same month a year earlier, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Exports of gold jewellery (both studded and plain), during the month declined by nearly 30% to US$ 533.51 million from US$ 777.74 mn a year earlier.

Overall exports from the gem and jewellery sector during May 2017 stood at US$ 3.97 billion, an increase of 9.32% over the US$ 3.63 billion exported in the same month the previous year.

Rough imports during the month at US$ 1.86 billion were up 22.5% in value terms compared to US$ 1.52 billion imported during the previous May. In volume terms, 15.1 mn carats of rough were imported during the month, a rise of nearly 50% compared to imports of 12.11 mn carats during May ‘16.

Imports of cut and polished diamonds were down 1.9% to US$ 244.47 million in May 2017 from US$ 249.07 million a year earlier.

Exports of gold medallions and coins during the month rose to US$ 455.4 million as against US$ 329 million a year earlier. Exports of silver jewellery jumped to US$ 746.6 million in May 2017 as compared to US$ 370 million last year.

Coloured gemstone exports were down 7% in May 2017 to US$ 30.19 million as compared to US$ 32.44 million exported a year earlier.

Overall exports from the gem and jewellery sector in India during the first two months of fiscal 2018 stood at US$ 7.8 billion, a rise of 11.32% as compared to the US$ 7.02 billion exported in the same period last year.

Exports of cut and polished diamonds in April-May2017 were up 1.09% to US$ 3.80 billion as compared to US$ 3.75 billion a year earlier.

During the fiscal year to date, import of rough diamonds rose to US$ 3.61 bn, an increase of 5.97% as compared to US$ 3.40 bn a year earlier. In volume terms, imports rose by 27.31% from 27.51 mn cts in April-May ’16 to 35.02 mn cts in the same period this year. 

Exports of gold jewellery (both studded and plain) declined 31% to US$ 1.14 billion during the first two months of the current fiscal, as compared to exports of US$ 1.62 billion in the same period last year.

Exports of gold medallions & coins were US$ 1 billion in the two month period, up nearly 50%, while silver jewellery exports rose significantly to US$ 1.52 billion, and Coloured Gemstones exports rose 1.47% to US$ 55.82 mn in April-May ‘17.

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