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Silver January 19, 2018 05:00:43 AM

India’s Gold Jewellery Exports Surged 27% in December

Paul Ploumis
ScrapMonster Author
The combined exports of silver jewellery by the country during the period from April to December in 2017 have surged higher by over 16%, despite the decline in monthly exports during the recent quarter.
India’s Gold Jewellery Exports Surged 27% in December

NEW DELHI (Scrap Monster): According to the most recent trade statistics published by the Gems and Jewellery Export Promotion Council (GJEPC), India recorded considerable jump in gold jewellery exports during the month of December last year. Meantime, silver jewellery exports declined during the month.

As per GJEPC data, India’s exports of gold jewellery totaled $981.76 during the month of December 2017. This is significantly higher by nearly 27% when compared with the year before that. The country’s gold jewellery exports had totaled $775.97 in December 2016. Meanwhile, silver jewellery exports declined by around 7% from $237.81 Million in December 2016 to $222.02 Million in December ’17. In rupee terms the gold jewellery exports reported year-on-year growth of 19.7%. The silver jewellery exports were down nearly 12% in rupee terms.

The cumulative exports of gold jewellery during the initial three quarters of the current fiscal remained more or less the same, recording marginal increase by 0.43%. The exports during Apr ’17-Dec ’17 totaled $7,059.65, as compared with the exports of $7,029.74 reported during the corresponding nine month period in fiscal 2017.

The combined exports of silver jewellery by the country during the period from April to December in 2017 have surged higher by over 16%, despite the decline in monthly exports during the recent quarter. The exports totaled $3,114.85 as against $2,678.72 during the first three quarters of previous fiscal.

ALSO READ: India's Gold Bar Inflows Surged 62% in December

According to GJEPC data, the exports of cut and polished diamonds increased modestly during the month. The exports surged significantly by nearly 8% from $1,478.71 Million in December 2016 to $1,592.30 Million in December last year. The cumulative exports during the opening nine months of the current fiscal were up marginally by nearly 2% year-on-year in dollar terms.

India's export of gold medallions & coins during Apr-Dec ’17 dropped sharply by nearly 55% year-on-year from $3,830.17 Million in Apr-Dec ’16 to $1,736.02 during April to December in 2017.

The country’s exports of Pearls almost doubled from $0.09 Million in December ’16 to $0.17 Million in December last year. The exports of Synthetic stones skyrocketed from $8.90 Million to $18.12 Million year-on-year. The exports of Costume & Fashion Jewellery declined sharply from $2.77 Million to $1.23 Million in December 2017. The export of Rough diamond by the country has recorded notable jump in December 2017. The exports during the month totaled $117.72 Million.

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