Jewellery exports in June decline 16% YoY on slow demand from China, Gulf

Experts say weak trend likely to continue, annual gems and jewellery exports seen dipping by as much as 15%

Gem and jewellery exports declined 16.26 per cent to $2,826 million during June from $3,375.17 million during the same month last year. Exports during the first quarter of FY20 declined by 10.38 per cent to $9.18 billion from $10.25 billion during the same period last year. Experts say that the trend seen in first quarter is likely to continue and the value of overseas shipments may decline by 10-15 per cent for the full year.

The reasons are many for the dismal scene. Colin shah, Vice-Chairman of the Gems and Jewellery Export Promotion Council (GJEPC) says, "Despite stable market conditions in