News Bureau

GJ exports tumbled by 54.79% in 1Q

Silver is the new silver line in the basket of GJ export India!

According to the recent figures announced by the Gem & Jewellery Export Promotion Council (GJEPC), overall gross exports of Gems & Jewellery (GJ) is showing a decline of 34.72% to US$ 1647.49 million during the month of June 2020 as compared to US$ 2523.74 million in June 2019.

Overall export performance during the first quarter of FY 2020-21 gross exports of Gems & Jewellery declined.

Overall export dropped by 54.79% to US$ 2.75 bn from April 2020 to June 2020, over the US$ 6.07 bn during the same period of last year, the first quarter.

Cut and Polished Diamond (CPD) exports fallen by 46.91% in the month of June 2020 to US$ 898.32 mn as compared to US$ 1692.18 mn in June 2019. This drop is being seen wider while looking at the quarter term. CPD exports for the period of April 2020 to June 2020 registered a drop of 49.68% to US$ 1801.71 mn compared with US$ 3580.22 mn registered from April 19 to June 2019.

Even Gold Jewellery Exports is also showing its graph to negative! Gold Jewellery Exports have fallen by 40.72% to US$ 237.05 mn from US$ 399.89 mn June 2019. This negative graph tumbles wider at the quarter performance!

Gold Jewellery Exports April 20 to June 2020 witnessed a free fall by 79.09% to the US $ 321.24 mn from US$ 1536.57 mn April 19 to June 2019.

Silver is the new silver line in the basket of GJ export India during this rock-hard period Silver Jewellery Exports that jumps by 93.19% to US$ 324.59 mn during the April to June 2020 quarter over the same quarter of 2019 which was registered its export of US$ 168.01 mn April 19 to June 2019.

Coloured Gemstone Exports April 2020 to June 2020 dropped up to 80.56% to US$ 16.20 mn from US$ 83.34 mn April 19 to June 2019. Looking Gem & Jewellery export performance for the month of June 2020 in Rupee term, GJEPC said, the overall gross exports of Gems & Jewellery is showing a decline of 28.23% to Rs12482.91 Cr during the month of June 2020 as compared to Rs17393.14 Cr. in June 2019.

The overall gross exports of Gems & Jewellery registered a decline of 50.69% to Rs20796.80 Cr from April 2020 to June 2020 as compared to Rs42175.49 Cr during the same period last year.

On the other hand, CPD exports for the month of June 2020 slides by 41.65 % to Rs. 6805.39 Cr as compared to Rs11662.20 Cr in June 2019. CPD exports April 2020 to June 2020 dropped at 45.09% to Rs13638.18 Cr from Rs.24837.87 Cr export registered during April 2019 to June 2019.

Gold Jewellery Exports for the month of June 2020 lowered by 34.81% to Rs. 1796.67 Cr compared with Rs. 2755.95 Cr of the month of June 2019. A quarter view, Gold Jewellery Exports for the period of April 2020 to June 2020 registered a tumbling of 77.23% to Rs. 2433.66 Cr from Rs. 10688.91 Cr. April 2019 to June 2019.

Even at the Rupee term Silver jewellery export that shined. Silver Jewellery Exports for the first quarter 2020-21, for the period of April 2020 to June 2020 jumped over 110.97% to Rs2459.11 Cr from Rs1165.61 Cr April 2019 to June 2019.

Coloured Gemstone Exports April 2020 to June 2020 dropped to 78.80% to Rs122.85 Cr from Rs579.50 Cr. April 2019 to June 2019.

At Import front, a notable drop was expected as the leading trade association had urged gem & jewellery players to halt their import of diamonds. Overall Gem & Jewellery Import performance for June 2020 remained very strategic. Overall gross Import of Gems & Jewellery April 2020 to June 2020 showing a decline of 74.81% to US$ 915.14 mn from US$ 3632.87 mn registered during April 2019 to June 2019.

The overall gross import of Rough diamonds April 20 to June 2020 showing a decline 82.70% to US$ 481.65 mn from US$ 2784.13 mn registered from April 19 to June 2019. The overall gross import of CPD April 2020 to June 2020 showing a growth 22.14% to US$ 303.45 mn from US$ 248.45 mn registered from April 19 to June 2019.

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