Gem and jewellery sector hits Rs 45 b mark for 2006

RECORD EARNINGS: Local gem and jewellery exports recorded a 23 percent growth in 2006 contributing nearly Rs. 45 billion through total export earnings. This has passed the Rs. 40 billion target for last year.

Chairman of National Gem and Jewellery Authority (NGJA) Hasitha Tillekeratne said that total earnings for last year recorded Rs. 4,4902.7 million and it was Rs. 36,558.5 million in 2005.

Total gem exports were recorded as Rs. 9,852.5 million in 2006 showing a 23% growth comparing with 2005. Gem re-exports had a 46% growth contributing Rs. 644.5 million to the total earnings.

Diamond re-exports contributed Rs. 31,722.7 million in 2006 and it was Rs. 26,156.8 million in 2005. Gem studded jewellery showed 34% growth contributing Rs. 1,751.2 million last year. Diamond Jewellery exports recorded Rs. 717.7 million showing a 64% growth compared with 2005. Geuda exports too showed a 3% growth, he said.

U.S.A., Thailand, Switzerland, Hong Kong and Japan have been in the forefront as importing countries of our gemstones, he said.

The Government having realised the importance of the gem and jewellery sector has created a fiscal regime through the Budget Proposals for 2007, that recognises the unique nature of this industry.

(AS)