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India Exports Hit Two-Year High

May 24, 2021 10:31 AM   By Rapaport News
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RAPAPORT... 
India’s polished-diamond exports reached their highest level in more than two years as manufacturers rushed to meet retail demand. April shipments came to $2.25 billion, compared with $35 million during the onset of the coronavirus pandemic a year earlier. The total was also 37% higher than the same period of 2019, according to recent data from the country’s Gem & Jewellery Export Promotion Council (GJEPC).

India Trade Data for April 2021

  April 2021 Year-on-year change
     
Polished exports $2.25B 6423%
Polished imports $141M 3638%
Net polished exports $2.11B 6764%
Rough imports $1.7B 2020: $0
Rough exports $50M 2020: $0
Net rough imports $1.65B 2020: $0
Net diamond account $464M 1408%
Polished exports: volume 2.6 million carats 52160%
Average price of polished exports $861/carat -88%
     
  January-April 2021 Year-on-year change
     
Polished exports $7.96B 97%
Polished imports $896M 37%
Net polished exports $7.07B 109%
Rough imports $5.82B 103%
Rough exports $158M -31%
Net rough imports $5.66B 114%
Net diamond account $1.41B 91%
Polished exports: volume 9.8 million carats 76%
Average price of polished exports $811/carat 12%


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. (Rapaport News)
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Tags: Gem & Jewellery Export Promotion Council, GJEPC, India, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports
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