RAPAPORT... India's polished diamond exports surged 50.8 percent year on year to $1.566 billion in July, according to provisional data provided by the Gem & Jewellery Export Promotion Council (GJEPC). Polished imports, meanwhile, skyrocketed 86.7 percent to $549 million, leaving net polished exports of $1.017 billion compared with $734 million one year earlier.
Rough diamond imports jumped 39.4 percent to $1.676 billion, while rough exports leapt 68.7 percent to $141 million in July. Net rough diamond imports of $1.535 billion represented an increase of 37 percent from July 2012. India's net diamond account, factoring total exports less imports, recorded a deficit of $518 million compared with a deficit of $386 million one year ago.
During the first seven months of 2013, India’s polished exports have risen 20.9 percent year on year to $12.525 billion, while polished imports increased 28.5 percent to $4.376 billion, according to Rapaport News calculations. India's net polished exports have improved 17.2 percent to $8.149 billion.
Rough imports have jumped 15 percent to $10.331 billion this year and exports were up 27.8 percent to $1.173 billion. Net rough imports have climbed 13.5 percent to $9.158 billion.
India's net diamond account for the January through July period registered a deficit of $1.009 billion, down 9.2 percent year on year.