Gem and jewellery exports record 53 % growth

Sanjeevi JAYASURIYA

The gem, diamond and jewellery export sector has recorded an overall growth of 53 percent as at end of June 2012, earning a revenue of Rs.37,488 million in comparison with the corresponding figure of Rs.24,459 million in 2011.

The sector shows promising growth and there have been increases in gem exports, cutting sector, jewellery and diamonds recording values of Rs 7,999 million, Rs 161 million, Rs 1,566 million and Rs 27,656 million respectively for January to June 2012. The comparison figures for 2011 June were Rs 5,092 million, Rs 89 million, Rs 995 million and Rs 18,214 million respectively. All the increases were above 50 percent and are impressive, National Gem and Jewellery Authority Chairman Prasad Galhena told Daily News Business.

The total export revenue for 2012 June was Rs 37,488 million while in 2011 it was Rs 24,259 million, a growth of 53 percent, he said. The most significant growth is recorded by Jewellery exports, where the benefit of total value addition is gained and the service cutting and diamond manufacturing industries where Sri Lanka has proved the presence of a highly skilled workforce of lapidarists and diamond cutters.

The U.S.A., Thailand, Hong Kong, Switzerland, Italy, France, India, Malaysia, Singapore, China, Canada and Germany are among the top export destinations for Sri Lankan gems and Jewellery.

Today we are promoting our products in world class trade fairs and exhibitions held in many countries such as the U.S.A., Japan, Hong Kong, Switzerland, Thailand, Malaysia, Singapore, China, India and France,Galhena said.

To showcase Sri Lanka’s unique gem and Jewellery products to the world, by enabling exports for local entrepreneurs, by building strong local and international trade linkages at every level of the industry, the National Gem and Jewellery Authority has come forward to be the principal sponsor of Facets Sri Lanka – 2012 to be held from September 5-8 and the organizer of “Jewels Sri Lanka – 2012” scheduled to be held from December 7 to 9, 2012.