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India's Polished Diamond Exports -28% in September

Oct 15, 2015 9:25 AM   By Rapaport News
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RAPAPORT... India's polished diamond exports fell 28 percent year on year to $1.92 billion in September 2015, according to provisional data provided by the Gem & Jewellery Export Promotion Council. By volume, polished exports decreased 9 percent to 3.295 million carats. Polished imports decreased 79 percent to $235 million, leaving next exports 8 percent higher at $1.69 billion.

Rough diamond imports decreased 29 percent to $1.05 billion and rough exports fell 55 percent to $67 million, leaving net imports 26 percent lower at $982 million. India's net diamond account, which is calculated as the difference between net polished exports and net rough imports, rose 198 percent to $706 million compared with a $237 million in September 2014.

During the month, India imported $4.4 million worth of rough synthetic stones, most of them diamonds. Polished synthetic imports, meanwhile, totaled $10.74 million and exports were $6.75 million.

In terms of diamond trading for the first nine months of the calendar year, Rapaport News calculated that India's polished diamond exports fell 9 percent year on year to $16.3 billion, while polished imports decreased 51 percent to $2.70 billion. Net polished exports improved 10 percent to $13.6 billion.

Rough imports decreased 23 percent to $10.378 billion, while rough exports fell 24 percent to $896 million, leaving net imports 23 percent lower at $9.48 billion. India's net diamond account for the January through September period was $4.08 billion compared with $22 million one year earlier.
Tags: India, Rapaport News
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