Gems and jewellery:

Exports top Rs 22.4 b

Indunil HEWAGE

Total gem and jewellery export earnings for the first half of 2010 was recorded at Rs 22.4 billion.

It was Rs 18.62 billion and Rs 26.2 billion during the first half in 2009 and 2008 respectively.

Sri Lanka’s gem export value recorded Rs 3.8 billion in the first half in 2010 while jewellery export value was Rs 722.5 million.

The country managed to earn Rs 17.5 billion as diamond re-exports during the same period.

Gem exports for 2010 increased by 20 percent when compared to last year and jewellery and diamond re-exports rose by 12 percent and 22 percent respectively in 2010 when compared to last year.

Gem export value recorded Rs 3.2 billion in the first half in 2009 while jewellery exports value was Rs 647.1 million. Sri Lanka earned Rs 14.3 billion as diamond re-exports value during the same period. Gem export value recorded Rs 5.36 billion in the first half in 2008 while jewellery exports value was Rs 987.2 million.

The country earned Rs 19.2 billion as diamond re-exports during the same perild. National Gem and Jewellery Authority, Chairman Anil Koswatte said Thailand, USA, Switzerland and Hong Kong were the main buyers for the country’s gem exports in 2009 and Thailand accounted for 28 percent gem exports in 2009.

However, USA accounted for 26 percent gem exports becoming the major Sri Lankan gem export market during the first quarter in 2010.

Belgium accounted for 76 percent diamond re-exports while Thailand accounted for 12 percent during the year 2009.

Israel was the third largest export market for country’s diamond re-exports during the same year.

USA, Germany, UK and Japan were the major buyers for country’s jewellery exports in 2009 and USA accounted for 27 percent country’s jewellery exports during the same year.

Sri Lankan gem and jewellery products in demand are rings, pendants, necklaces, bracelets and bangles.