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India's Polished Diamond Exports -28% in October
Nov 19, 2012 2:36 AM
By Avi Krawitz
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RAPAPORT... India’s polished diamond exports fell 28 percent year on year to $1.339 billion in October 2012, according to the Gem & Jewellery Export Promotion Council (GJEPC). By volume, polished exports declined 27 percent to 2.834 million carats as the average price of the exports dropped 2 percent to $472.57 per carat.
Imports of polished diamonds to India fell 47 percent to $480.31 million during the month. Net polished exports, representing the excess of exports over imports, declined by 11 percent to $858.95 million.
Rough imports to India rose 109 percent to $1.475 billion during the month, while rough exports fell 30 percent to $99.65 million. Net rough imports, representing rough imports less exports, increased 144 percent to $1.375 billion.
India’s October net diamond account, representing total exports less total imports, fell to a deficit of $516.91 million, from a surplus of $402.21 million the previous year.
During the first 10 months of the year, India’s polished exports fell 40 percent to $14.621 billion, while its polished imports slumped 74 percent to $4.621 billion. Rough imports rose 3 percent to $12.331 billion and rough exports declined by 6 percent to $1.335 billion.
India’s net diamond account for January through October improved to a deficit of $996.72 million from a deficit of $4.280 billion a year earlier.
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Tags:
Avi Krawitz, India
Rapaport
Diamonds
Gem & Jewellery Export Promotion Council
GJEPC
Jewellery
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