Industry News by Nemesis

India's Polished Diamond Exports Up in April, Rough Imports Decline

May 21, 2018

 Exports of polished diamonds from the world's largest manufacturing hub, India, remained steady at $1.99 billion during the month of April as compared to March ($2.03 billion), and jumped by 14% compared to the same month a year ago according to figures Gem & Jewellery Export Promotion Council (GJEPC).

 

The increase in value compared to April 2017 stems from a rise in the volume of shipments, from 2.37 to 2.77 million carats (+17%), as the average price per carat fell slightly (-2%) to about $719 per carat. Month-to-month, the volume of polished also remained steady, as India exported 2.81 million carats last month. Polished imports, meanwhile tumbled by 38% year-over-year to $114.4 million

 

Imports of rough diamonds, on the other hand, fell on a year-to-year as well as monthly basis. Rough imports for the month were down by 13% y-o-y to $1.52 billion from the import of 15.4 million carats, or 9% fewer than in April 2017. Rough imports also declined nearly 10% in value compared to last month, when 17 million carats worth $1.68 billion were imported to the manufacturing center. Rough exports dropped 35% on a year-over-year basis to $77.5 million.

 

Source: The Diamond Loupe

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