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India’s Polished Exports Fall in March
May 6, 2019 10:28 AM
By Rapaport News
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RAPAPORT... India’s polished exports dropped 8% year on year to $1.86 billion in
March, reflecting continued weakness in the diamond market. Lower volumes outweighed a rise in the average price, according to data the Gem &
Jewellery Export Promotion Council (GJEPC) released recently. Rough imports
also fell, as demand from manufacturers slowed due to a tightening of credit in the
sector.
India Trade Data for March and 1Q 2019
| Millions unless stated otherwise |
March 2019 |
Year-on-year change |
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| Polished exports |
$1,864 |
-8% |
| Polished imports |
$110 |
-43% |
| Net polished exports |
$1,754 |
-4% |
| Rough imports |
$1,414 |
-16% |
| Rough exports |
$199 |
42% |
| Net rough imports |
$1,215 |
-21% |
| Net diamond account |
$539 |
84% |
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| Polished exports: volume |
2.4 million carats |
-16% |
| Average price of polished exports |
$791/carat |
10% |
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| Millions unless stated otherwise |
Jan-Mar 2019 |
Year-on-year change |
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| Polished exports |
$5,954 |
-9% |
| Polished imports |
$290 |
-40% |
| Net polished exports |
$5,663 |
-6% |
| Rough imports |
$3,651 |
-24% |
| Rough exports |
$425 |
19% |
| Net rough imports |
$3,227 |
-27% |
| Net diamond account |
$2,437 |
51% |
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| Polished exports: volume |
7.38 million carats |
-14% |
| Average price of polished exports |
$807/carat |
6% |
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: The Bharat Diamond Bourse. (Bharat Diamond Bourse)
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Tags:
Average Price, exports, Gem & Jewellery Export Promotion Council, GJEPC, imports, India, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data
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