GJ exports dropped by 54.79% in 1Q
CPD exports slides 49.68% in 1Q
Silver is the new silver line
In the basket of GJ export India!
According
to the recent figures announced by the Gem & Jewellery Export Promotion
Council (GJEPC), overall gross exports of Gems & Jewellery (GJ) is showing
a decline of 34.72% to US$ 1647.49 million during the month of June 2020 as
compared to US$ 2523.74 million in June 2019.
Overall
export performance during the first quarter of FY 2020-21 gross exports of Gems
& Jewellery declined.
Overall
export dropped by 54.79% to US$ 2.75 bn during the April 2020 to June 2020, over
the US$ 6.07 bn during the same period of last year, the first quarter.
Cut
and Polished Diamond (CPD) exports fallen by 46.91% in the month of June 2020 to
US$ 898.32 mn as compared to US$ 1692.18 mn in June 2019.
This drop is being
seen wider while looking at the quarter term. CPD exports for the period of April
2020 to June 2020 registered a drop of 49.68% to US$ 1801.71 mn compared with US$
3580.22 mn registered during April 19 to June 2019.
Even
Gold Jewellery Exports is also showing its graph to negative! Gold Jewellery
Exports fallen by 40.72% to US$ 237.05 mn from US$ 399.89 mn June 2019.
This
negative graph tumbles wider at the quarter performance! Gold
Jewellery Exports April 20 to June 2020 witnessed a free fall by 79.09% to US $
321.24 mn from US$ 1536.57 mn April 19 to June 2019.
Silver
is the new silver line in the basket of GJ export India during this rock-hard
period Silver Jewellery Exports that jumps by 93.19% to US$ 324.59 mn during
the April to June 2020 quarter over the same quarter of 2019 which was
registered its’ export of US$ 168.01 mn April 19 to June 2019.
Coloured
Gemstone Exports April 2020 to June 2020 dropped up to 80.56% to US$ 16.20 mn
from US$ 83.34 mn April 19 to June 2019. Looking Gem & Jewellery export performance
for the month of June 2020 in Rupee term, GJEPC said, the overall gross exports
of Gems & Jewellery is showing a decline of 28.23% to Rs12482.91 Cr during
the month of June 2020 as compared to Rs17393.14 Cr. in June 2019.
The
overall gross exports of Gems & Jewellery registered declined of 50.69% to
Rs20796.80 Cr during April 2020 to June 2020 as compared to Rs42175.49 Cr
during the same period last year.
On
the other hand CPD exports for the month of June 2020 slides by 41.65 % to Rs.
6805.39 Cr as compared to Rs11662.20 Cr in June 2019. CPD exports April 2020 to
June 2020 dropped at 45.09% to Rs13638.18 Cr from Rs. 24837.87 Cr export registered
during April 2019 to June 2019.
Gold
Jewellery Exports for the month of June 2020 lowered by 34.81% to Rs. 1796.67
Cr compared with Rs. 2755.95 Cr of the month of June 2019. At quarter view,
Gold Jewellery Exports for the period of April 2020 to June 2020 registered a
tumbling of 77.23% to Rs. 2433.66 Cr from Rs. 10688.91 Cr. April 2019 to June
2019.
Even
at the Rupee term Silver jewellery export that shined. Silver Jewellery Exports
for the first quarter 2020-21, for the period of April 2020 to June 2020 jumped
over 110.97% to Rs2459.11 Cr from Rs1165.61 Cr April 2019 to June 2019.
Coloured
Gemstone Exports April 2020 to June 2020 dropped to 78.80% to Rs122.85 Cr from
Rs579.50 Cr. April 2019 to June 2019.
At
Import front, a notable drop was expected as the leading trade association had
urged gem & jewellery players to halt their import of diamonds. Overall Gem
& Jewellery Import performance for June 2020 remained very strategic. Overall
gross Import of Gems & Jewellery April 2020 to June 2020 showing a decline
of 74.81% to US$ 915.14 mn from US$ 3632.87 mn registered during April 2019 to
June 2019.
The
overall gross import of Rough diamonds April 20 to June 2020 showing a decline
82.70% to US$ 481.65 mn from US$ 2784.13 mn registered during April 19 to June
2019. The overall gross import of CPD April 2020 to June 2020 showing a growth
22.14% to US$ 303.45 mn from US$ 248.45 mn registered during April 19 to
June2019.
Comments
Post a Comment