Overview
- Gems and jewellery exports fell 4.98% year on year in December 2025 to $1.88 billion, according to GJEPC data.
- Total shipments for April–December 2025 were broadly stable at $20.75 billion, a marginal decline of 0.41% from a year earlier.
- Exports to the United States dropped about 44% in the nine-month period to $3.86 billion and slid 50.44% in December, with the council citing tariff pressures and weak discretionary demand.
- Alternative markets posted strong gains, with exports to the UAE up 28.08% to $6.89 billion, Hong Kong up 28.19% to $4.25 billion, and Australia up 39.83% to $277.76 million, supported by FTAs.
- Product trends were mixed in December, as cut and polished diamonds rose 2.7% to $794.93 million, lab-grown diamonds fell 2.56% to $82.87 million, gold jewellery declined 16.31% to $732.28 million, and silver jewellery surged 248.74% to $179.46 million.