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India Dealing in Higher-Value Diamonds

Aug 22, 2018 11:08 AM   By Rapaport News
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India’s polished-diamond exports were boosted by a significant rise in the average price of goods leaving the country, data published by the Gem & Jewellery Export Promotion Council showed. At $812 per carat, the average price achieved in July was a record high for the country, according to Rapaport records. Rough imports also showed strong improvements over last year.

India Diamond Trade Data for July 2018
 
$ Millions unless stated otherwise July 2018 Year-on-year change
     
Polished exports $1,840 12%
Polished imports $133 -42%
Net polished exports $1,707 20%
Rough imports $1,666 26%
Rough exports $100 10%
Net rough imports $1,566 27%
Net diamond account $141 -23%
     
Polished exports: volume (thousand carats) 2,265 -28%
Average price of polished exports ($/carat) $812 55%
     
  January-July 2018 Year-on-year change
     
Polished exports $14,668 10%
Polished imports $968 -37%
Net polished exports $13,699 16%
Rough imports $11,059 0%
Rough exports $759 -19%
Net rough imports $10,300 1%
Net diamond account $3,399 107%



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: Bharat Diamond Bourse
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