Industry News by Nemesis

India’s Polished Diamond Export Declines 40.92 % in February

March 18, 2020

 

India’s cut and polished diamond exports totalled $ 1.38 bln in February 2020 against $ 2.34 bln in February 2019, according to provisional data released by the Gem & Jewellery Export Promotion Council of India.


Imports of cut and polished diamonds rose to $ 249.22 mln in February 2020 from $ 93.58 mln in the same month in 2019.


Rough imports during February 2020 increased by 6.34% to $ 1.47 bln as compared to $ 1.38 bln imported during February 2019.


Exports of rough diamonds totalled $ 76.56 mln in February 2020 as compared to $ 124.06 mln in February 2019. 


Exports of polished lab-grown diamonds stood at $ 37.05 mln during February 2020 as against $ 23.35 mn in February a year earlier.


Imports of rough lab-grown diamonds stood at $ 25.47 mln during the month, up from $ 9.40 mln in February 2019, while imports of polished lab-grown diamonds declined to $ 6.04 mln in February 2020 as compared to $ 12.95 mn a year earlier.


For the eleven months of the current fiscal, polished diamond exports during April 2019 – February 2020 were down 19.38% to $ 17.70 bn as against the $ 21.95 bln exported over the same months last fiscal, while imports of polished diamonds rose by 21.04% to $ 1.47 bln as compared to $ 1.22 bln for the same period of the previous fiscal year.


Import of rough diamonds during the fiscal year to date showed a decline of 13.43% to $ 12.39 bln from $ 14.31 bln during the fiscal period a year earlier.


Exports of rough diamonds totalled $ 1.03 bln in April 2019 – Feb 2020 as compared to $ 1.15 bln during the same period a year earlier.


Meanwhile, exports of rough lab-grown diamonds stood at $ 7.18 mln in April ’19 – Feb ’20 as against $ 13.42 mln in the same period a year earlier. 


Exports of polished lab-grown diamonds stood at $ 393.21 mln during the April 2019 – Feb 2020 period as against $ 195.44 mln during the same period a year earlier.


Imports of rough lab-grown diamonds stood at $ 318.60 mln during April ’19 – Feb ’20 period up from imports of $ 123.66 mln during the same period a year ago.


Imports of polished lab-grown diamonds rose to $ 92.51 mln in April 2019 – Feb 2020 as compared to $ 85.88 mln during the same period a year earlier.

 

Image credit: stevepb (Pixabay)

 

Source: Rough&Polished

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