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India Sees Further Rise in Diamond Exports

Jul 18, 2018 6:03 AM   By Rapaport News
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RAPAPORT... A higher average price resulted in an increase in India’s polished-diamond exports in June. Outbound polished shipments have grown this year, with a 9% rise in the second quarter and a 10% jump for the first six months.

India Diamond Trade Data for June 2018
$ Millions unless stated otherwise June 2018 Year-on-year change
Polished exports 2,083 5%
Polished imports 141 -38%
Net polished exports 1,942 11%
Rough exports 108 -9%
Rough imports 1,533 -14%
Net rough imports 1,425 -15%
Net diamond account 625 209%
Polished exports: volume (thousand carats) 2,765 -11%
Average price of polished exports ($/carat) 753 18%
  Apr-June 2018 Year-on-year change
Polished exports 6,292 9%
Polished imports 349 -47%
Net polished exports 5,943 16%
Rough exports 302 -17%
Rough imports 4,598 -15%
Net rough imports 5,030 33%
Net diamond account 1,215 -28%
  Jan-June 2018 Year-on-year change
Polished exports 12,828 10%
Polished imports 835 -36%
Net polished exports 11,992 16%
Rough exports 659 -22%
Rough imports 9,394 -4%
Net rough imports 8,734 -2%
Net diamond account 3,917 70%

Source: Gem & Jewellery Export Promotion Council; Rapaport archives

About the data: India, the world’s largest diamond-cutting center, is a net importer of rough and a net exporter of polished. As such, net polished exports — representing polished exports minus polished imports — will usually be a positive number. Net rough imports — calculated as rough imports minus rough exports — will also generally be in surplus. The net diamond account is total rough and polished exports minus total imports. It is India’s diamond trade balance, and shows the added value the nation creates by manufacturing rough into polished.

Image: Bharat Diamond Bourse
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Tags: Gem & Jewellery Export Promotion Council, GJEPC, India, net diamond account, net polished exports, Net rough imports, polished, Polished Diamonds, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data
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