Marked increase in gem exports

Geuda and diamond re-exports shine:

Indunil Hewage

Sri Lanka’s total gem export value has exceeded Rs 6,949.4 million during the first 11 months in 2010 recording a three percent growth as against Rs 6,745.5 million gem export value recorded in the corresponding period in 2009.

Total jewellery exports recorded Rs 1,332.8 million in revenue from January to November, 2010 recording a five percent decrease as against Rs 1,405.7 million jewellery export value recorded in the corresponding period in 2009.

National Gem and Jewellery Authority Chairman Anil Koswatte said the total Geuda and diamond re- export value for the first 11 months increased by 25 percent and two percent respectively when compared to the same period in 2009.

The total diamond re-export value was reported at Rs 33,738.7 million for the first 11 months in 2010 as against Rs 33,154.4 million in the same period in 2009. The diamond jewellery export value for the first 11 months in 2010 was Rs 279.9 million indicating a 30 percent decrease as against Rs 401.1 million diamond jewellery export value recorded in the same period in 2009.

The total export value of RIE (rough import and re-export) from January to November 2010 plummeted to Rs 157.2 million, which is a 10 percent decrease compared to the corresponding period in 2009.

The RIE export value for the year 2009 was Rs 174.9 million.

USA, Thailand, Hong Kong and Switzerland were the main buyers for the country’s gem export from January to August 2010 and USA accounted for 27 percent in gem exports during this period.

Belgium, Thailand, Israel and Dubai were the main buyers for the country’s diamond re-exports from January to August 2010 and Belgium accounted for 72 percent in diamond re-export exports during this period.

USA accounted for 23 percent in Sri Lankan Jewellery exports for the first eight months in 2010 and Dubai accounted for 29 percent in the country’s diamond jewellery exports during the same period in 2010.