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India Polished Exports Drop
Nov 14, 2019 7:29 AM
By Rapaport News
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RAPAPORT... India’s polished-diamond exports fell 15% to $1.95 billion in
October, reflecting a 22% slide in the average price of shipments. Export volume
rose 8% to 2.8 million carats, according to data from the Gem & Jewellery
Export Promotion Council. The nation continued to import much lower quantities
of rough than a year ago as companies worked down their inventory.
| India Trade Data for October 2019 |
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Oct 2019 |
Year-on-year change |
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| Polished exports |
$1,953 |
-15% |
| Polished imports |
$165 |
79% |
| Net polished exports |
$1,788 |
-19% |
| Rough imports |
$796 |
-20% |
| Rough exports |
$98 |
-26% |
| Net rough imports |
$697 |
-19% |
| Net diamond account |
$1,090 |
-20% |
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| Polished exports: volume |
2.8 million carats |
8% |
| Average price of polished exports |
$691/carat |
-22% |
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Jan-Oct 2019 |
Year-on-year change |
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| Polished exports |
$18,194 |
-15% |
| Polished imports |
$1,084 |
-20% |
| Net polished exports |
$17,110 |
-15% |
| Rough imports |
$10,971 |
-23% |
| Rough exports |
$1,138 |
4% |
| Net rough imports |
$9,833 |
-25% |
| Net diamond account |
$7,277 |
3% |
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| Polished exports: volume |
24.1 million carats |
-12% |
| Average price of polished exports |
$755/carat |
-4% |
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| 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: Polished diamonds. (Shutterstock)
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Tags:
data, exports, Gem & Jewellery Export Promotion Council, GJEPC, imports, imports and exports, India, net diamond account, net polished exports, Net rough imports, polished, polished exports, polished imports, Rapaport News, rough, rough exports, rough imports, trade data
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