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India Polished Trade Slips to Seven-Month Low
Aug 12, 2019 10:00 AM
By Rapaport News
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RAPAPORT... India’s polished-diamond exports slid 18% year on year in
July, reaching their lowest level since December 2018. The decline reflected a
slowdown in the midstream sector as manufacturers struggled to offload excess goods. Rough trading also
dropped significantly, according to data from the Gem & Jewellery Export
Promotion Council.
India Trade Data for July 2019
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| Millions unless stated otherwise |
July 2019 |
Year-on-year change |
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| Polished exports |
$1,503 |
-18% |
| Polished imports |
$114 |
-14% |
| Net polished exports |
$1,389 |
-19% |
| Rough imports |
$1,095 |
-34% |
| Rough exports |
$93 |
-7% |
| Net rough imports |
$1,002 |
-36% |
| Net diamond account |
$387 |
174% |
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| Polished exports: volume |
2.1 million carats |
-7% |
| Average price of polished exports |
$714/carat |
-12% |
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| Millions unless stated otherwise |
Jan-Jul 2019 |
Year-on-year change |
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| Polished exports |
$12,657 |
-14% |
| Polished imports |
$683 |
-30% |
| Net polished exports |
$11,975 |
-13% |
| Rough imports |
$8,159 |
-26% |
| Rough exports |
$868 |
14% |
| Net rough imports |
$7,291 |
-29% |
| Net diamond account |
$4,684 |
38% |
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| Polished exports: volume |
16 million carats |
-17% |
| Average price of polished exports |
$789/carat |
4% |
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, India data, net diamond account, net polished exports, Net rough imports, polished exports, Rapaport News
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