India’s Gold Jewellery Exports Collapsed 17%

Meantime, the silver jewellery exports continued to decline.

SEATTLE (Scrap Monster): The statistics released by India’s apex trade body, The Gem & Jewellery Export Promotion Council (GJEPC) suggests notable decline in gold jewellery exports during the month of September this year. However, the cumulative exports during the first six months were significantly higher, over the year.

According to provisional data published by GJEPC, the gold jewellery exports totaled $830.35 million in September this year, significantly lower by 16.72% when compared with the exports during Sep ’17. The exports had totaled $997.01 million in September last year. India exported $6,063.18 million of gold jewellery during the first six months of the current fiscal year, which is higher by more than 59% when compared with the previous year. The Jan-Sep ’17 exports had totaled only $3,804.22 million.

Meantime, the silver jewellery exports continued to decline. The Sep ’18 exports have dropped by nearly 80% over the year to total $75.15 million. The cumulative exports until August too dropped significantly by almost 87% year-on-year from $2,375.90 million to $314.13 million, GJEPC data said.

The exports of Colored Gemstones posted marginal increase by over 4% to $60.77 million in Sep ’18. At $206.89 million, the exports during Jan-Sep ’18 were down by 2.35% over the previous year. The exports of Costume & Fashion Jewellery dropped by 23.27% in September, whereas those of Synthetic Stones were down by 13.09%. At the same time, GJEPC recorded 90% decline in exports of Pearls by the country.

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