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RAPAPORT... India's polished diamond exports were flat year on year at $1.452 billion in December, according to provisional data collected by the Gem & Jewellery Export Promotion Council. Polished diamond imports jumped 16.1 percent to $441.6 million, leaving net polished exports up 40.3 percent to $1.01 billion.
Rough diamond imports fell 13.4 percent to $1.431 billion, while rough exports rose 3 percent to $107.5 million, leaving net rough imports down 14.5 percent to $1.324 billion. The net diamond account in December, reflecting the difference between net exports and net imports, improved to a deficit of $314 million compared with a deficit of $828 million in December 2013.
As for rough synthetic stones, India imported $11.1 million worth of goods in December, up 64.2 percent compared with one year earlier, while polished synthetic exports rose 16.4 percent to $8.6 million.
In terms of natural diamond trading for the calendar year, India's polished diamond exports rose 8.4 percent year on year to $22.21 billion, while polished imports increased 9.8 percent to $7.534 billion. Net polished diamond exports rose 7.8 percent to $14.676 billion in 2014.
Rough diamond imports improved by 7.5 percent to $17.533 billion, while rough exports declined 16.1 percent to $1.497 billion, leaving India with net rough imports up 10.4 percent to $16.036 billion. India recorded a polished export deficit of $1.36 billion in 2014, up from a deficit of $900 million in 2013.
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