From April to September, total foreign sales in the diamond and jewelry industry dropped by 20.6%, highlighting the ongoing challenges faced by the sector.
However, the situation appears more promising when looking at monthly figures. In September, total exports rose to $1.29 billion, up from $1.04 billion in August and $908 million in July. This suggests a degree of resilience, despite the overall downturn.
Looking at the wider jewelry and gemstone market, gross exports for September were valued at $2.54 billion, marking a 15.9% decline compared to the previous year. Polished diamonds showed a steeper drop, with exports down by 22.9%.
Exports of polished lab-grown diamonds—a smaller but expanding part of the market—also experienced a 16.5% decline, reaching $111 million. This reflects a broader slowdown across different diamond categories, as the industry adapts to shifting global demands and economic challenges.
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