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India’s Polished Exports Fall in February

Mar 19, 2019 11:41 AM   By Rapaport News
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RAPAPORT...
 India’s polished-diamond exports dropped 4% to $2.34 billion in February, as market weakness continued. A slide in the volume of shipments outweighed a higher average price, according to data the Gem & Jewellery Export Promotion Council (GJEPC) released this week. Rough imports also decreased, indicating a slowdown in the manufacturing sector.

India Trade Data for February 2019

$ Millions unless stated otherwise Feb 2019 Year-on-year change
Polished exports $2,341 -4%
Polished imports $94 -41%
Net polished exports $2,248 -1%
Rough imports $1,380 -18%
Rough exports $124 -11%
Net rough imports $1,256 -20%
Net diamond account $992 41%
     
Polished exports: volume 2.8 million carats -8%
Average price of polished exports $826/carat 4%
     
     
$ Millions unless stated otherwise Jan-Feb 2019 Year-on-year change
Polished exports $4,089 -9%
Polished imports $180 -39%
Net polished exports $3,910 -7%
Rough imports $2,238 -28%
Rough exports $226 4%
Net rough imports $2,012 -31%
Net diamond account $1,898 44%
     
Polished exports: volume 5 million carats -13%
Average price of polished exports $814/carat 5%




Source: Gem & Jewellery Export Promotion Council; Rapaport 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.

Image: Bharat Diamond Bourse.
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Tags: India data, India polished exports, India trade data, net diamond account, Net rough imports, polished exports, Rapaport News
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