RAPAPORT... India’s polished-diamond exports fell 25% to $1.64 billion in
August, data from the Gem & Jewellery Export Promotion Council showed. The
decline reflects a slump in the average export price to $658 per carat, the
lowest since August 2017, according to Rapaport archives. Exports of polished
lab-grown diamonds more than doubled to $37.4 million for the month from $15.2
million a year ago.
| India Trade Data for August 2019 |
| |
August 2019 |
Year-on-year change |
| |
|
|
| Polished exports |
$1,638 |
-25% |
| Polished imports |
$113 |
-9% |
| Net polished exports |
$1,524 |
-26% |
| Rough imports |
$861 |
-4% |
| Rough exports |
$120 |
4% |
| Net rough imports |
$741 |
-5% |
| Net diamond account |
$783 |
-38% |
| |
|
|
| Polished exports: volume |
2.5 million carats |
-7% |
| Average price of polished exports |
$658/carat |
-19% |
| |
|
|
| |
Jan-Aug 2019 |
Year-on-year change |
| |
|
|
| Polished exports |
$14,295 |
-15% |
| Polished imports |
$796 |
-27% |
| Net polished exports |
$13,499 |
-14% |
| Rough imports |
$9,020 |
-25% |
| Rough exports |
$988 |
13% |
| Net rough imports |
$8,032 |
-28% |
| Net diamond account |
$5,467 |
17% |
| |
|
|
| Polished exports: volume |
18.5 million carats |
-16% |
| Average price of polished exports |
$772/carat |
0% |
| |
|
|
| All numbers in millions unless stated otherwise. |
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 in Mumbai. (Rapaport News)
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