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RAPAPORT... India's polished diamond exports declined 0.7 percent year on year in June to $1.469 billion, according to provisional data that was collected by the Gem & Jewellery Export Promotion Council. By volume, polished exports fell 4 percent to 2.695 million carats. Polished diamond imports fell 8 percent to $662.2 million; nonetheless, net polished exports improved 3 percent to $806.8 million. Rough diamond imports rose 16.2 percent to $1.596 billion, while rough diamond exports fell by 0.7 percent to $111 million, leaving net rough imports 17.8 percent higher at $1.485 billion. India's June net diamond account, representing the difference between net polished and rough exports less total imports, widened to a deficit of $678.2 million compared with a deficit of $478 million one year ago. During the month, India's rough synthetic gemstone imports plunged 53.7 percent to $2.98 million, while total synthetic gemstone imports fell 40.8 percent to $4.89 million. Synthetic gemstone exports, however, rose to $6.21 million compared with only $70,000 one year ago. In terms of diamond trading for the first six months of 2014, polished exports declined 7.6 percent year on year to $10.125 billion, while polished imports contracted by 12 percent to $3.366 billion, leaving net exports down 5.2 percent to $6.759 billion. Rough imports rose 7.4 percent to $9.293 billion and rough exports declined 24.3 percent to $781 million, leaving net rough imports 11.7 percent higher at $8.512 billion. India's net diamond account for the first six months of 2014 registered a deficit of $1.753 billion compared with a deficit of $491 million one year ago.
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