Industry News by Nemesis

India’s Diamond Trade Grows in 2017

January 24, 2018

 

India’s polished-diamond exports increased 2.1% to $23.09 billion in 2017 as the nation shipped out a higher volume of goods. 

By weight, exports jumped 14% to 37.3 million carats, while the average price slipped 11% to $620 per carat, Rapaport calculations show. Net polished exports — representing exports minus imports — jumped 3.8% to $20.71 billion, according to the figures, which are based on monthly data published by the nation’s Gem & Jewellery Export Promotion Council (GJEPC). 

Rough imports grew 11% to $18.46 billion, while exports increased 7% to $1.52 billion. Net rough imports — imports minus exports — rose 11% to $16.94 billion. 

India’s 2017 net diamond account — calculated as total rough and polished exports minus total imports, measuring the added value of the nation’s diamond industry — declined 20% to $3.76 billion. 

In December, India’s polished exports increased 8% to $1.59 billion, while rough imports leapt 56% to $2.18 billion.

 

Source: Rapaport

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