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India Trade Grows Amid Higher Average Price
Apr 26, 2022 10:29 AM
By Rapaport News
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RAPAPORT... India’s polished-diamond exports rose 3% year on year in March as a higher average price outweighed a decline in shipment volumes, according to recent data from the Gem & Jewellery Export Promotion Council (GJEPC).
India Trade Data for March 2022
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March 2022 |
Year-on-year change |
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| Polished exports |
$2.2B |
3% |
| Polished imports |
$168M |
-50% |
| Net polished exports |
$2.03B |
13% |
| Rough imports |
$2.04B |
45% |
| Rough exports |
$134M |
49% |
| Net rough imports |
$1.9B |
45% |
| Net diamond account |
$127M |
-74% |
| Polished exports: volume |
2.1 million carats |
-21% |
| Average price of polished exports |
$1,031/carat |
30% |
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January-March 2022 |
Year-on-year change |
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| Polished exports |
$6.23B |
10% |
| Polished imports |
$369M |
-51% |
| Net polished exports |
$5.86B |
20% |
| Rough imports |
$5.31B |
29% |
| Rough exports |
$293M |
51% |
| Net rough imports |
$5.02B |
27% |
| Net diamond account |
$839M |
-12% |
| Polished exports: volume |
6.4 million carats |
-11% |
| Average price of polished exports |
$966/carat |
23% |
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: Diamond merchants in Surat, India, in 2015. (Shutterstock)
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Tags:
exports, GJEPC, imports, India, Rapaport News
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