Jewellery business stares at prolonged slowdown, exports down by 9.17%

Cut and polished diamond exports fell 5.67 per cent in January 2020 to $1.65 billion. In the first 10 months of this fiscal year, it was down 16.8 per cent to $16.32 billion.

The festive cheer for the gems and jewellery sector has come to an end in January with exports declining 9.17 per cent to $29.6 billion. Exports in the first 10 months of this fiscal year fell 5.68 per cent to $30.66 billion. 

With the coronavirus outbreak, prospects for the sector look dim with a key event to promote gems and jewellery in Hong Kong being postponed.

While cut and polished diamond exports continued their downward journey, one of the best performing segments – gold jewellery exports – also fell in January by 2.96 per cent to $889.10 million. It increased