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India's Polished Diamond Exports -9% in May

Jun 17, 2015 8:40 AM   By Jeff Miller
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RAPAPORT... India's polished diamond exports fell 9.3 percent year on year to $1.742 billion in May, according to provisional data collected by the Gem & Jewellery Export Promotion Council. Exports declined 53.3 percent by volume to 2.591 million carats. Polished imports, however, slid 54 percent to $195.5 million, leaving net exports up 3.3 percent to $1.547 billion.

Rough diamond imports declined 14 percent to $1.323 billion, while rough exports fell 17.4 percent to $118 million, leaving net imports down 13.7 percent at $1.205 billion. India's net diamond account in May rose to  $342 million compared with $101 million one year earlier.

Meanwhile, rough synthetic imports contracted 58.1 percent to $3.8 million in May, while synthetic exports fell 28.5 percent to $4.41 million.

During the first five months of the calendar year, India's natural polished diamond exports increased 6.5 percent year on year to $9.218 billion, while polished imports plummeted 36.5 percent  to $1.717 billion, leaving next exports up 26 percent at $7.501 billion.
 
Rough imports  fell 20.5 percent to $6.119 billion, rough exports were down 13.3 percent at $581 million, leaving net imports 21.2 percent lower at $5.538 billion. India's net diamond account for the year through May shot up 82.6 percent to  $1.963 billion.


Tags: account deficit, diamonds, exports, imports, India, Jeff Miller, Synthetics
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