Gems and jewellery exports fall to five-year low on U.S. tariffs

Gems and jewellery exports in the 2025/26 fiscal year ​dipped 3.3% from a year earlier to their ‌lowest level in five years, as ​shipments to the top buyer, the ⁠U.S., nearly halved, a leading trade body said on Wednesday (April 15, 2026), reflecting the impact of tariffs and ‌duties.

Gem and jewellery exports in the year to the end ‌of March fell to $27.72 billion, the lowest ‌since ⁠2020/21, when pandemic-led lockdowns disrupted trade, ⁠and down from $28.7 billion in the previous year, the Gem and Jewellery Export Promotion Council (GJEPC) said in a ​statement.