Industry News by Nemesis

India’s Cut and Polished Diamond Exports Down by 15.12% in May

June 26, 2019

 

India’s exports of cut and polished diamonds decreased by 15.12% year-on-year during the month of May 2019 according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC).


Exports of cut and polished diamonds recorded $ 1.88 bln in May 2019, a decline of 15.12% as compared to the $ 2.21 bn exported in May 2018.


Rough imports dropped during the month by 35.42% to $ 1.0 bln as compared to $ 1.55 bln imported during May 2018. In volume terms also, rough imports fell from 16.92 mn carats during May 2018 to 11.08 mn carats in May 2019.


Imports of cut and polished diamonds rose by 4.76% to $ 94.44 mln in May 2019 from $ 93.08 mn in May 2018.


Polished diamond exports during April – May 2019 were down 16.32% to $ 3.52 bln as against the $ 4.21 bn exported over the same period in 2018. Imports of polished diamonds fell by 17.05% to $ 172.07 mln as compared to $ 207.45 mln for the same period in 2018.


Import of rough diamonds showed a decline of 20.27% during the current fiscal year to $ 2.44 bln from $ 3.07 bln a year earlier. In volume terms, imports fell by 22.87% from 32.33 mln cts in April – May 2018 to 24.93 mln cts in the same period in the current fiscal.

 

Source: Rough&Polished

 

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