RAPAPORT... India’s polished-diamond exports climbed
19% by value in October amid a higher volume and average price compared with a year ago, according to
data from the Gem & Jewellery Export Promotion Council. Exports are up 9%
for the year to date as an 18% jump in the average price has offset lower
volume, reflecting a shift toward higher-value goods. India’s net diamond
account surged 50% over the 10 months as growth in rough and polished exports
outpaced that of imports.
India Diamond Trade Data for October
2018
| Millions unless stated otherwise |
Oct 2018 |
Year-on-year change |
|
|
|
| Polished exports |
$2,306 |
19% |
| Polished imports |
$92 |
-33% |
| Net polished exports |
$2,214 |
23% |
| Rough imports |
$990 |
23% |
| Rough exports |
$133 |
91% |
| Net rough imports |
$857 |
16% |
| Net diamond account |
$1,357 |
28% |
|
|
|
| Polished exports: volume |
2.9 million carats |
8% |
| Average price of polished exports |
$791/carat |
11% |
|
|
|
|
Jan-Oct 2018 |
Year-on-year change |
|
|
|
| Polished exports |
$21,520 |
9% |
| Polished imports |
$1,347 |
-29% |
| Net polished exports |
$20,173 |
13% |
| Rough imports |
$14,202 |
-1% |
| Rough exports |
$1,094 |
-12% |
| Net rough imports |
$13,108 |
0% |
| Net diamond account |
$7,065 |
50% |
|
|
|
| Polished exports: volume |
27.6 million carats |
-8% |
| Average price of polished exports |
$779/carat |
18% |
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: A polished diamond. (Shutterstock)
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