RAPAPORT... India’s polished diamond exports grew 16 percent year on year to $2.16 billion in February 2014, according to preliminary data from the Gem & Jewellery Export Promotion Council (GJEPC). By volume, exports rose 14 percent to 3.318 million carats. Polished imports increased 20 percent to $564.5 million during the month. India’s net polished exports, representing the excess of exports over imports, rose 15 percent to $1.6 billion.
India’s rough diamond imports grew 12 percent to $1.49 billion in February, while rough exports dropped 34 percent to $112.5 million. Net rough imports, or the excess of imports over exports, rose 18 percent to $1.377 billion.
India’s February net diamond account, which is calculated as the total of polished and rough exports less total imports, decreased 3 percent to $222.9 million.
In February, India's imports of rough synthetic stones, including synthetic diamonds and gemstones, fell 23 percent to $4.3 million, while synthetic stone imports more than doubled to $7.12 million. Total synthetic stone exports more than doubled to $10.9 million.
During the first two months of 2014, India’s polished exports fell 9 percent to $3.225 billion, while polished imports remained flat at $1.076 billion, according to Rapaport News calculations. Rough imports rose 12 percent to $1.49 billion and rough exports grew 18 percent to $1.377 billion. India’s net diamond account for the first two months of the calendar year rose 11 percent to $2.036 billion.
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