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Higher Average Price Boosts India Exports

Oct 2, 2018 11:19 AM   By Rapaport News
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RAPAPORT... India’s polished-diamond exports jumped 20% by value in August amid a 26% increase in the average price, according to data the nation’s Gem & Jewellery Export Promotion Council released recently. Rough imports fell 8% during the same period.

India Diamond Trade Data for August 2018

Millions unless stated otherwise Aug 2018 Year-on-year change
     
Polished exports $2,180 20%
Polished imports $124 -14%
Net polished exports $2,057 23%
Rough imports $900 -8%
Rough exports $117 28%
Net rough imports $783 -11%
Net diamond account $1,274 61%
     
Polished exports: volume 2,681,000 carats -5%
Average price of polished exports $813/carat 26%
     
  Jan-Aug 2018 Year-on-year change
     
Polished exports $16,848 11%
Polished imports $1,092 -35%
Net polished exports $15,756 17%
Rough imports $11,959 -1%
Rough exports $876 -14%
Net rough imports $11,083 0%
Net diamond account $4,673 92%

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 Indian pavilion at the June Hong Kong Jewellery & Gem Fair. (GJEPC)
Tags: exports, Gem & Jewellery Export Promotion Council, GJEPC, India, net diamond account, net polished exports, Net rough imports, polished imports, Rapaport News, rough exports, rough imports, trade data
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