Record progress in gem and jewellery exports

Despite the current worldwide economic recession Sri Lanka has been successful in earning a record income of Rs. 54.44 billion upto November 2008, even more than the total income of Rs.51.88 billion for 2007 - which was that year's highest national income from exports, according to National Gem and Jewellery Authority Chairman Hasitha Tillekeratne.

Due to favourable conditions for gem and jewellery exports the total value of gem and jewellery exports and diamond re-exports, diamond jewellery and gueda exports was Rs. 47,024 million up to November 2007 while the export value during the corresponding period of 2008 was Rs.54,446 million.

The Chairman calls this success rate very significant in the context of the prevailing global economic recession. The export income is expected to reach US$ one billion.

By the end of November 2008 the value of gem exports stood at Rs. 9,814.4 million, value of gem re-exports at Rs.347.9 million, value of jewellery exports at Rs. 1,746.5 million, value of diamond re-export at Rs. 41,517.9 million, value of diamond jewellery exports at Rs. 858.6 million and the value of gueda exports at Rs. 158.5 million.

In addition to the traditional buyers of Sri Lanka gems, Tillekeratne said backing is already being given for exports to countries like China, Russia, Turkey, India and Saudi Arabia (which have been least affected by the economic recession) via Sri Lanka pavilions at selected gem and jewellery exhibitions in China, India and Russia.