Industry News by Nemesis

India’s Polished Diamond Exports Down 15.39% During October

November 18, 2019

During October, cut and polished diamond exports declined by 15.39% year-on-year totalling $ 1.95 bln during during October as against $ 2.30bln during October 2018, according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC) of India.


Rough imports during October fell by 19.61% to $ 795.92 mln as compared to $ 990.09 mln imported during the previous October. In volume terms, rough imports moved up marginally by 2.48% to 9.90 mn carats in October 2019 from 9.66 mn carats during October 2018.


Imports of cut and polished diamonds rose to $ 165.13 mln in October 2019 from $ 92.11 mln in October 2018.


Exports of rough diamonds totalled $ 98.48 mln in October 2019 as compared to $ 133.02 mln a year earlier.


Exports of polished lab-grown diamonds stood at $ 53.75 mln during October 2019 as against $ 26.72 mln a year earlier.


Imports of rough lab grown diamonds stood at $ 9 mln during the month, down from $ 10.37 mln a year ago.


Imports of polished lab grown diamonds rose to $ 22.84 mln in October 2019 as compared to $ 5.67 mln in October 2018.


For the first seven months of the current fiscal, polished diamond exports during April-October 2019 were down 18.31% to $ 12.24 bln as against the $ 14.99 bln exported over the same period last year.


Imports of polished diamonds fell by 7.77% to $ 793.83 mln as compared to $ 860.70 mln for the same period year 2018.


During April-October 2019, import of rough diamonds showed a decline of 22.15% to $ 7.32 bln from $ 9.41 bln during the same period a year earlier.In volume terms, imports fell by 9.90% from 94.31 mn cts in April-October 2018 to 84.98 mn cts in the same period in the current fiscal.


Exports of rough diamonds totalled $ 713.46 mln in April-October 2019 as compared to $ 736.16 mln a year earlier.


Exports of rough lab grown diamonds stood at $ 6.77 mln in April-October 2019 as against $ 5.87 mln in the same period a year earlier.


Exports of polished lab-grown diamonds stood at $ 254.08 mln during the April-October 2019 period as against $ 123.68 mln a year earlier.


Imports of rough lab grown diamonds stood at $ 83.45 mln in the first seven months of the fiscal, up from imports of $ 75.41 mln a year ago.


Imports of polished lab grown diamonds rose to $ 144.03 mln in April-October 2019 as compared to $ 42.29 mln a year earlier.
 

Source: Rough&Polished

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