March Gem & Jewellery exports halve as Covid-19 delivers a body blow

The lockdown is the latest in a string of adverse events to have hit the industry

The gems and jewellery industry has faced a huge setback after the outbreak of coronavirus (Covid-19) disease and the subsequent national lockdown with exports in March declining by half according to initial estimated of the Gem and Jewellery Export Promotion Council. 
 

To be sure, the sector had been ailing for the past few quarters because of the impact of the US-China trade war, followed by economic slowdown and riots in Hong Kong. 

Total gross exports, including cur and polished diamonds, in March are estimated to have slipped to $1.5 billion against $3.44 billion a year ago, a decline of 56.4