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India’s Polished Diamond Exports +9% in April

May 24, 2016 2:50 AM   By Rapaport News
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RAPAPORT... India’s polished diamond exports jumped 8.8 percent year on year to $1.78 billion in April, according to provisional data provided by the Gem & Jewellery Export Promotion Council. By volume, polished exports increased 3.1 percent to 2.6 million carats. Polished imports declined 8.6 percent to $223.1 million, leaving net polished exports 12 percent higher at $1.56 billion.

Rough diamond imports surged 37 percent to $1.88 billion and rough exports slumped 23 percent to $86.1 million, leaving net imports 43 percent higher at $1.79 billion. India’s net diamond account, which is calculated as the difference between net polished exports and net rough imports, swung to negative $237.6 million from positive $132.5 million a year earlier.

During the month, India imported $5.5 million of rough synthetic stones. Polished synthetic imports, meanwhile, totaled $10 million and exports were $7.8 million.

In terms of diamond trading for the first four months of the calendar year, Rapaport News calculated that India’s polished diamond exports fell 6.5 percent year on year to $6.99 billion, while polished imports dived 42 percent to $903.3 million. Net polished exports increased 3 percent to $6.08 billion.

Rough imports increased 21 percent to $5.81 billion, while rough exports increased 4.1 percent to $480.4 million, leaving net rough imports 22 percent higher at $5.33 billion. India’s net diamond account in January through April fell 51 percent to $754.9 million.
Tags: imports and exports, India, mumbai, polished, polished exports, polished imports, Rapaport News, rough, Surat, trade data
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