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India Trade Slows in December
Jan 21, 2019 10:11 AM
By Rapaport News
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RAPAPORT... India’s polished exports fell in December, according to data
from the Gem & Jewellery Export Promotion Council (GJEPC). However, shipments
for the full year increased amid a higher average price, while volume dropped. This
reflects traders’ shift toward larger goods amid weakness in the small-stone sector.
India Trade Data for December 2018
| $ Millions unless stated otherwise |
Dec 2018 |
Year-on-year change |
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| Polished exports |
$1,313 |
-17% |
| Polished imports |
$112 |
-49% |
| Net polished exports |
$1,202 |
-12% |
| Rough imports |
$1,737 |
-20% |
| Rough exports |
$106 |
-10% |
| Net rough imports |
$1,631 |
-21% |
| Net diamond account |
-$429 |
Deficit declined 38% |
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| Polished exports: volume |
2 million carats |
-11% |
| Average price of polished exports |
$663/carat |
-6% |
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Q4 2018 |
Year-on-year change |
| Polished exports |
$5,181 |
-2% |
| Polished imports |
$269 |
-50% |
| Net polished exports |
$4,912 |
3% |
| Rough imports |
$3,656 |
-26% |
| Rough exports |
$326 |
-8% |
| Net rough imports |
$3,331 |
-27% |
| Net diamond account |
$1,582 |
825% |
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| Polished exports: volume |
6.8 million carats |
-10% |
| Average price of polished exports |
$765/carat |
9% |
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H2 2018 |
Year-on-year change |
| Polished exports |
$11,567 |
1% |
| Polished imports |
$689 |
37% |
| Net polished exports |
$10,878 |
5% |
| Rough imports |
$7,475 |
-14% |
| Rough exports |
$628 |
-11% |
| Net rough imports |
$6,847 |
-14% |
| Net diamond account |
$4,031 |
73% |
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| Polished exports: volume |
14.5 million carats |
-17% |
| Average price of polished exports |
$798/carat |
22% |
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Full Year 2018 |
Year-on-year change |
| Polished exports |
$24,395 |
6% |
| Polished imports |
$1,524 |
-36% |
| Net polished exports |
$22,871 |
10% |
| Rough imports |
$16,868 |
-9% |
| Rough exports |
$1,287 |
-17% |
| Net rough imports |
$16,728 |
-1% |
| Net diamond account |
$7,289 |
93% |
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| Polished exports: volume |
31.5 million carats |
-10% |
| Average price of polished exports |
$775/carat |
17% |
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 data, India polished exports, net diamond account, net polished exports, polished exports, Rapaport News
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