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Drop in India’s Exports Eases Further
Oct 15, 2020 10:10 AM
By Rapaport News
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RAPAPORT... India’s polished-diamond exports declined 20% in September — a more moderate fall than the country had experienced in previous months. Rough imports rose 16% as De Beers and Alrosa started selling in large quantities again.
India Trade Data for September 2020
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September 2020 |
Year-on-year change |
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| Polished exports |
$1.57B |
-20% |
| Polished imports |
$267M |
118% |
| Net polished exports |
$1.3B |
-29% |
| Rough imports |
$1.35B |
16% |
| Rough exports |
$78M |
52% |
| Net rough imports |
$1.27B |
15% |
| Net diamond account |
$28M |
-96% |
| Polished exports: volume |
2.4 million carats |
-11% |
| Average price of polished exports |
$641/carat |
-9% |
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January-September 2020 |
Year-on-year change |
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| Polished exports |
$8.98B |
-45% |
| Polished imports |
$1.67B |
82% |
| Net polished exports |
$7.31B |
-52% |
| Rough imports |
$4.98B |
-51% |
| Rough exports |
$588M |
-43% |
| Net rough imports |
$4.4B |
-52% |
| Net diamond account |
$2.92B |
-53% |
| Polished exports: volume |
13.1 million carats |
-38% |
| Average price of polished exports |
$685/carat |
-10% |
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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Tags:
exports, imports, India, net diamond account, Rapaport News, trade data
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