The Gem & Jewellery Export Promotion Council (GJEPC) of India has released monthly data on the country's rough and polished diamond trade for May 2024.
Total gross exports of gems and jewellery fell 6.14% to $2.48 billion in May from $2.65 billion in the same period last year. Total gross imports in May amounted to $1.894 billion, demonstrating strong stability compared to April and an increase of 23.6% compared to $1.53 billion in May last year. Overall, overall gross exports have continued to decline over the past two months, while total gross imports have continued to rise.
Polished exports in May decreased by 14.6% compared to May 2023 figures to $1.47 billion, while imports reached $138.47 million, an increase of 60.8% compared to $86.11 million in May 2023.
India imported $2.39 billion worth of rough diamonds in May, down 9.62% from $2.64 billion in May last year.
Gross lab-grown diamond (LGD) exports for May 2024 decreased by 13.7% from $139.22 million (May 2023) to $120.14 million.
In May, India exported gold jewellery, including studded jewellery, worth $660.55 million, which was 13% higher than the same period last year ($584.04 million).
Hélène Tarin, Editor in Chief of the Asian Bureau, Rough&Polished
