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India’s Polished Diamond Exports -42% in January
Feb 22, 2016 2:06 PM
By Rapaport News
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RAPAPORT...
India’s
polished diamond exports dived 42 percent year on year to $1.04 billion in
January, according to provisional data provided by the nation’s Gem &
Jewellery Export Promotion Council. By volume, polished exports slumped 36
percent to 1.8 million carats. Polished imports fell 47 percent to $197.3
million, leaving net polished exports 40 percent lower at $847.5 million.
Rough diamond imports increased 16 percent to $990.6 million
during the month compared with a year earlier. Rough exports crept up 0.7
percent to $107.2 million, leaving net rough imports 19 percent higher at $883.4
million.
India’s net diamond account, which is
calculated as the difference between net polished exports and net rough
imports, declined from positive $675.1 million to negative $35.9 million.
During the month, India imported $4 million worth of rough
synthetic stones, most of them diamonds. Polished synthetic imports, meanwhile,
totaled $10.4 million and exports were $2.8 million.
The
latest figures come on the back of an 11-percent
decline in India’s polished diamond exports in 2015 as a whole, with rough
imports down 22 percent during the year.
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Tags:
GJEPC, imports and exports, India, polished, Rapaport News, rough
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