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India's Diamond Trade Sees Substantial Growth
Nov 22, 2016 5:09 AM
By Rapaport News
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RAPAPORT... India’s polished diamond exports jumped 37 percent year on
year to $2.52 billion in October, according to provisional data provided by the
Gem & Jewellery Export Promotion Council. By volume, polished exports declined
9 percent to 3.3 million carats. Polished imports slumped 31 percent to $195.8
million, leaving net polished exports 49 percent higher at $2.32 billion.
Rough diamond imports grew 17 percent to $1.26 billion and
rough exports advanced 51 percent to $100.5 million, leaving net rough imports
15 percent higher at $1.15 billion. India’s net diamond account, calculated as
the difference between net polished exports and net rough imports, more than
doubled to $1.17 billion from $549.6 million a year ago.
During the month, India imported $6.8 million worth of rough
synthetic stones, most of them diamonds. Polished synthetic imports, meanwhile,
totaled $7.1 million and exports were $13 million.
In terms of diamond trading for the first 10 months of the
calendar year, Rapaport News calculated that India’s polished diamond
exports increased 6 percent to $19.43 billion, while polished imports slumped
23 percent to $2.32 billion. Net polished exports jumped 12 percent to $17.1
billion.
Rough imports rose 22 percent to $14.03 billion, while rough
exports climbed 27 percent to $1.23 billion, leaving net rough imports 22
percent higher at $12.8 billion. India’s net diamond account for the January
through October period declined 9 percent to $4.3 billion.
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Tags:
diamond trading, exports, GJEPC, imports, imports and exports, India, mumbai, polished exports, Rapaport News, Surat, trade data
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