The Gem & Jewellery Export Promotion Council (GJEPC) has released monthly data on the country's diamond trade for December 2024, and also summed up the interim results of the current fiscal year that began on April 1.
According to the data released by the council, in the period from April to December, the total gross exports of gems and jewellery showed a decline of almost 11% from $ 23.4 billion in 2023 to $ 20.8 billion in the completed year. The total gross imports of jewellery also decreased by 6.72%, amounting to $ 14.5 billion against $ 15.6 billion a year earlier.
December was also marked by a decrease in these indicators: total gross exports fell by 10.3% to $1.97 billion, while in December 2023 they amounted to $2.19 billion. Total gross imports decreased in December by 27.2% to $1.5 billion, compared to $2 billion a year earlier.
Accordingly, polished diamond exports also decreased in December by 10.36% compared to the same period in 2023, amounting to $773.1 million. Stone imports in December collapsed by 64%, amounting to $91.3 million against $254.2 million a year earlier.
Rough diamond imports in December fell by 22% to $7.8 billion, while in December 2023 they maintained the level of $10 billion. In the period from April to December, India purchased 746.5 million carats of diamonds, which is 14.15% lower than the same period in 2023.
Gross exports of lab-grown diamonds (LGD) in December 2024 amounted to $78.93 million against $83.5 million a year earlier. And if in December the relative decline was 5.5%, then for the period from April to December the percentage of decline has already reached 9.26%.
In December, India exported gold jewelry, including with precious stones, for $868 million, which is 3.56% less than the same period in 2023 ($900 million). Only in the period from April to December, a slight increase was noted in gold jewelry exports – by 2.23% from $7.89 billion to $8 billion, mainly due to national holidays and the wedding season in the autumn.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
