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India's December Polished Exports -40%

Jan 19, 2012 2:36 AM   By Dilipp S Nag
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RAPAPORT... India's December polished diamond exports fell 40 percent year on year to $1.495 billion, while polished imports declined 48 percent to $1.143 billion, according to provisional data provided by the Gem & Jewellery Export Promotion Council (GJEPC).

The country's net polished exports, representing the excess of exports over imports, increased 16 percent to $352.41 million.

Rough diamond imports rose 4 percent to $1.307 billion during the month, while rough exports surged 49 percent to $129.17 million. India's net rough imports, or imports less exports, were little changed at $1.178 billion.

For the month of December, India's net diamond account -- the total of polished and rough exports less the total of polished and rough imports -- registered a deficit of $825.09 million, compared with a deficit of $871.01 million one year ago.

For the full year 2011, India's polished diamond exports rose 8 percent to $27.009 billion, while polished imports grew 18 percent to $19.959 billion. Rough imports were up 26 percent to $14.415 billion and rough exports jumped 70 percent to $1.602 billion.

India's net diamond account for the year registered a deficit of $5.763 billion, compared with a deficit of $2.373 billion one year ago.
Tags: diamonds, Dilipp S Nag, exports, Gem & Jewellery Export Promotional Council, GJEPC, imports, India, Polished Diamonds, Rapaport, Rough Diamonds
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