16-4-2021
The overall gems and jewellery exports declined by 28.46 percent to US$25.31 billion during the fiscal year 2020- 21, according to statistics by the Gem and Jewellery Export Promotion Council (GJEPC).
The sector witnessed a decline in the first three quarters, then a 12.73 percent growth in the fourth quarter. “The industry has shown resilience, adapted to the new normal and strived towards attaining recovery in exports in the second half of the year,” GJEPC chairman Colin Shah said in a statement. Key takeaways:
Coloured gemstone exports declined 41.71percent
Cut and polished diamonds exports dipped 12.13 percent
Gold jewellery exports plummeted 59.49 percent
Silver jewellery exports climbed 38.61 percent
Considering how COVID-19 pandemic has impacted jewellery industry in a global scale, Shah viewed the shrink an achievement, attributed to the improved International market demands in Q3, relief measures launched by the local government and GJEPC’s virtual trade shows.
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