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India Diamond Trade Sees Stabilizing Trend

Nov 1, 2021 6:49 AM   By Rapaport News
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India’s polished-diamond exports increased 22% year on year to $1.91 billion in September, with growth continuing but at a slower pace than in previous months. Shipments increased 7% by volume, while the average price rose 14%, according to recent data from the country’s Gem & Jewellery Export Promotion Council (GJEPC).

India Trade Data for September 2021

  September 2021 Year-on-year change
     
Polished exports $1.91B 22%
Polished imports $131M -51%
Net polished exports $1.78B 37%
Rough imports $1.67B 24%
Rough exports $124M 60%
Net rough imports $1.55B 22%
Net diamond account $230M 729%
Polished exports (volume) 2.6 million carats 7%
Average price of polished exports $729/carat 14%
     
  January-September 2021 Year-on-year change
     
Polished exports $18.19B 92%
Polished imports $1.48B -7%
Net polished exports $16.72B 112%
Rough imports $13.2B 148%
Rough exports $508M 31%
Net rough imports $12.69B 157%
Net diamond account $4.02B 36%
Polished exports (volume) 23.7 million carats 76%
Average price of polished exports $768/carat 9%


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 (BDB) in Mumbai. (Rapaport News)
Tags: data, 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, trade data
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