New Delhi: Jewellery exports declined 19 per cent year on – year to $3.1 billion in August 2012, owing to demand slowdown in western markets like the US and Europe.
In August 2011, these exports stood at $3.8 billion, according to the data provided by the Gems and Jewellery Export Promotion Council (GJEPC).
The demand is weak in traditional markets like the US and Europe, a GJEPC official said.
The major markets for the countrys jewellery exports include Europe, the US, the UAE and Hong Kong.
In August 2012, the exports of cut and polished diamonds declined by 41 per cent followed by gold medallions and coins exports which dropped by 23 per cent and coloured gemstones 12 per cent.
During AprilAugust this year, the countrys overall gems and jewellery exports dropped about 11 per cent to $16.1 billion compared to $18.2 billion in the same period last year.
These exports remained flat at $43 billion in 201112 compared to the previous fiscal.
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