The demand for Sri Lankan gems from the US has dropped rapidly due to the current economic downturn in the US, the National Gems and Jewellery Authority said.
Nevertheless, the revenue generated from the export of gems, jewellery and diamonds has increased significantly compared to previous years with the increase in the value of the US Dollar.
Accordingly, an income of USD 53.88 million was earned from the export of gems, jewellery and diamonds to the US in 2022, which is the highest income from the exports recorded after the Covid-19 pandemic.
The country received an income of about USD 34.5 million by exporting gems, jewellery and diamonds to Thailand last year.
During the period from January to August 25 this year, about USD 330 million have been earned from the export of gems, jewellery and diamonds, which is a 30% growth compared to last year.
The National Gems and Jewellery Authority further said that despite the increase in income, the demand for Sri Lankan gems, jewellery and diamonds has decreased.
