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India's February Polished Diamond Exports +16%

Mar 20, 2014 6:55 AM   By Deena Taylor
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RAPAPORT... India’s polished diamond exports grew 16 percent year on year to $2.16 billion in February ‎‎2014, according to preliminary data from the Gem & Jewellery Export Promotion Council (GJEPC). By ‎volume, exports rose 14 percent to 3.318 million carats. ‎ Polished imports increased 20 percent to $564.5 million during the month. India’s net ‎polished exports, representing the excess of exports over imports, rose 15 percent to $1.6 billion.‎

India’s rough diamond imports grew 12 percent to $1.49 billion in February, while rough ‎exports dropped 34 percent to $112.5 million. Net rough imports, or the excess of ‎imports over exports, rose 18 percent to $1.377 billion.‎

India’s February net diamond account, which is calculated as the total of polished and ‎rough exports less total imports, decreased 3 percent to $222.9 million.‎

In February, India's imports of rough synthetic stones, including synthetic diamonds and gemstones, fell 23 percent to $4.3 million, while synthetic stone imports more than doubled to $7.12 million. Total synthetic stone exports more than doubled to $10.9 million.

During the first two months of 2014, India’s polished exports fell 9 percent to $3.225 billion, while ‎polished imports remained flat at $1.076 billion, according to Rapaport News calculations. Rough imports rose 12 percent to ‎‎$1.49 billion and rough exports grew 18 percent to $1.377 billion.‎ India’s net diamond account for the first two months of the calendar year rose 11 percent to $2.036 billion.

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