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India Diamond Shipments See Moderate Growth

Jul 19, 2022 3:24 AM   By Rapaport News
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India’s polished-diamond exports rose 2% year on year in June, reflecting a sharp climb in the average price, according to recent data from the Gem & Jewellery Export Promotion Council (GJEPC). The increase follows a 4% jump in shipments for May.

India Trade Data for June 2022

  June 2022 Year-on-year change
Polished exports $2.02B 2%
Polished imports $121M 31%
Net polished exports $1.9B 1%
Rough imports $1.77B 4%
Rough exports $55M -4%
Net rough imports $1.71B 4%
Net diamond account $185M -22%
Polished exports: volume 2.1 million carats -27%
Average price of polished exports $950/carat 40%
  January-June 2022 Year-on-year change
Polished exports $12.49B 5%
Polished imports $723M -36%
Net polished exports $11.77B 10%
Rough imports $9.82B 12%
Rough exports $414M 15%
Net rough imports $9.41B 12%
Net diamond account $2.36B 3%
Polished exports: volume 13.2 million carats -13%
Average price of polished exports $946/carat 21%

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: Diamond merchants in Mahidharpura, Surat, India, in April 2015. (Shutterstock)
Tags: Average Price, Gem & Jewellery Export Promotion Council, GJEPC, India, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports
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