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Sri Lanka's total exports in the gems and jewellery sector recorded an increase of 26.26 percent during the first quarter of this year compared to the corresponding period of 2002, the National Gem and Jewellery Authority, Director General, P. Piyadasa told the Daily News yesterday.

He said Sri Lanka exported Rs. 5423.1 million worth gem, jewellery and other precious stones from January to March 2002 while exports increased to Rs. 6847.4 million during the corresponding period of 2003.

"The processed diamond sector performed well during this period recording an increase of 43.9 percent. Exports increased from Rs. 3,497.6 million to Rs. 5033.1 million.

Total jewellery exports increased from Rs. 176 million to Rs. 219.8 million during the first quarter which is an increase of 24.9 percent. However, the gem sector suffered a minor setback with a 4.98 percent decline in exports from Rs. 1,505.4 million last year to Rs. 1,430.4 million this year," Piyadasa said.

He said one of the reasons for the increase in the export of gems and jewellery was due to liberalising the import of precious stones from countries such as Madagaskar. (CK)

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