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India’s Polished Exports Rise in May

Jun 21, 2018 3:38 AM   By Rapaport News
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India saw its best May for polished-diamond exports in seven years, with shipments growing 8% year on year to $2.21 billion. That mainly reflects a 27% jump in the average price, which came to $775 per carat. The month’s figures include goods shipped to the US for the Las Vegas trade shows in the first week of June.

India Diamond Trade Data for May 2018

$ Millions unless stated otherwise May 2018 Year-on-year change
   
Polished exports 2,214 8%
Polished imports 93 -62%
Net polished exports 2,121 18%
Rough exports 117 -8%
Rough imports 1,549 -17%
Net rough imports 1,432 -18%
Net diamond account 689 978%
     
Polished exports: volume (thousand carats) 2,857 -15%
Average price of polished exports ($/carat) 775 27%
     
  Jan-May 2018 Year-on-year change
Polished exports 10,744 11%
Polished imports 694 -35%
Net polished exports 10,050 17%
Rough exports 551 -24%
Rough imports 7,860 -1%
Net rough imports 7,309 1%
Net diamond account 2,741 100%


Source: Gem & Jewellery Export Promotion Council; Rapaport calculations and 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.
Tags: Average Price, Gem & Jewellery Export Promotion Council, GJEPC, India, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, polished-diamond exports, Rapaport News, rough exports, rough imports, trade data
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