GJEPC Posted 6% Dip in Exports of Gold Jewellery

SEATTLE (Scrap Monster): The recent export trade statistics published by the trade apex body The Gem and Jewellery Export Promotion Council (GJEPC) suggests modest decline in gold jewellery exports by the country in July this year. Also, the cumulative exports during the initial four months of the current fiscal from Apr ’19 to July ’19 recorded marginal decline, upon comparison with the previous fiscal.

According to GJEPC, the the gold jewellery exports totaled $963.08 million in July this year, modestly down by 5.78% when compared with the exports during July ‘18. The exports had totaled $1,022.18 million in July last year. In rupee terms, the exports were down by 5.62% from INR 7,021.35 crores to INR 6,626.92 crores.

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During the initial four months of the current fiscal year, India exported $4,087.67 million worth of gold jewellery. The exports edged lower by 4.8% when compared with corresponding four-month period the previous fiscal. The country’s gold jewellery exports had totaled $4,293.59 million during April to July in 2018. In rupee terms, the exports recorded decline by 5.62% from INR 28,970.89 to INR 28,359.43.

Meantime, the silver jewellery exports surged higher significantly in July 2019. The monthly exports rose sharply by over 86% from $46.05 million in July ’18 to $85.81 million in July this year. The exports during Apr-July ’19 skyrocketed by 97% when compared with the previous year, said GJEPC data.