GJEPC Published Latest Gems & Jewellery Trade Trends

SEATTLE (Scrap Monster): The Gem and Jewellery Export Promotion Council (GJEPC), sponsored by the Indian Ministry of Commerce and Industry announced publication of half-yearly report on gems & jewellery trade trends.

According to the report, the gems and jewellery exports during the initial six-month period (Apr-Sep ’21) of the financial year 2021-’22 stood higher than the pre-Covid-19 level of exports in 2019. Also, the exports of key commodities, including studded gold jewellery and silver jewellery exceeded the pre-Covid export levels.

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The gross exports of gems and jewellery during Apr-Sep ’21 have increased by 5.13% over the year to $18.98 billion. This compares with $18.06 billion recorded during Apr-Sep ’19. The key driver behind the growth was the robust consumer demand in the U.S., UK and several other European countries. In the month of September 2021 alone, the gross exports witnessed year-on-year decline by 4.03% to $3.16 billion, in comparison with $3.29 billion in September 2019.

The gross exports of gold jewellery have registered substantial decline by over 32% year-on-year to $3,971.02 million during the initial half-yearly period this fiscal. Plain gold jewellery exports failed to revive back to its pre-Covid levels. On the other hand, studded gold jewellery continued its positive growth, recording 52% year-on-year growth.