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India’s Polished Trade Improves in May

Jun 19, 2017 4:32 AM   By Rapaport News
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RAPAPORT... India’s polished diamond exports grew 3.7% to $2.05 billion in May, according to data that the nation’s Gem & Jewellery Export Promotion Council (GJEPC) released recently.

By volume, polished exports jumped 12% year on year to 3.4 million carats, with the average price declining 8% to $609 per carat.

Polished imports fell 1.8% to $244.5 million, leaving net polished exports 4.5% higher at $1.8 billion.

Rough imports jumped 22% to $1.86 billion, reflecting a buoyant rough market. However, rough exports slipped 0.4% to $126.5 million, meaning net rough imports leapt 25% to $1.74 billion. India’s net diamond account for May — representing total rough and polished exports minus total imports — contracted 81% to $63.9 million.

In the first five months of 2017, polished exports increased 2.2% year on year to $9.69 billion, with polished imports down 7% to $1.07 billion. Net polished exports grew 3.5% to $8.63 billion. Rough imports advanced 9% to $7.97 billion, with rough exports up 19% to $723.6 million and net rough imports rising 8% to $7.25 billion. India’s net diamond account for the year to date fell 15% to $1.37 billion.
Tags: diamond exports, Gem & Jewellery Export Promotion Council, GJEPC, India, net diamond account, polished exports, Rapaport News, rough imports
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