GJEPC Reports 14% Dip in Indian Gold Jewellery Exports
During the initial two months of the current fiscal year, India exported $2,014.67 million of gold jewellery.
SEATTLE (Scrap Monster): The recent export trade statistics published by the apex body Gems and Jewellery Export Promotion Council (GJEPC) suggests notable decline in gold jewellery exports by the country in May 2019. Also, the combined exports during the initial two-month period (April to May 2019) of the current fiscal year reported marginal decline when matched with the year before.
According to GJEPC data, the the gold jewellery exports totaled $1,033.80 million in May this year, significantly down by 14.27% when compared with the exports during May ‘18. The exports had totaled $1,205.94 million in May last year. In rupee terms, the exports collapsed by more than 11% from INR 8,144.94 Crores to INR 7,212.79 Crores.
During the initial two months of the current fiscal year, India exported $2,014.67 million of gold jewellery. The exports edged lower by 3.87% when compared with corresponding two-month period the previous fiscal. The country’s gold jewellery exports had totaled $2,095.76 million during April to May in 2018. In rupee terms, the exports recorded marginal uptick by 0.27% from INR 13,985.73 to INR 14,022.95
Meantime, the silver jewellery exports surged higher significantly in May 2019. The monthly exports rose sharply by nearly 79% from $40.63 million in May ’18 to $72.81 million in May this year. The exports during Apr-May ’19 skyrocketed by almost 119% when compared with the previous year, said GJEPC data.
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