India’s exports of polished diamonds saw a steep decline of 23.8 percent year-on-year in August, according to the Gem and Jewellery Export Promotion Council (GJEPC). The total value of foreign sales reached $1.04 billion, down from $1.36 billion in August of the previous year.
In July, polished diamond exports were recorded at $908 million, marking a 22.7 percent decrease compared to the same month last year. This decline in exports has been consistent throughout the year, with drops of 20 percent in January, 28 percent in February, 27 percent in March, 17 percent in April, 15 percent in May, and 26 percent in June. All figures are reported in U.S. dollars.
Overall exports of gems and jewelry, which include polished diamonds, fell by 18.8 percent in August, totaling $2.01 billion. This decline was less severe than that of diamond exports.
Additionally, rough diamond imports from April to August dropped by 22.6 percent, totaling $4.98 billion.
Related topics:
- Anglo American Faces Increased Takeover Vulnerability Amid Share Price Drop
- Sotheby’s New York Jewelry Auction Generates Almost $5 Million
- Bonhams Jewelry Sales Net Nearly $3 Million
