India’s October Polished Diamond Decreases to 9%

India’s October polished diamond exports fell 9 percent year on year to $1.89 billion, while polished imports declined 24 percent to $899.5 million, according to provisional data provided by the Gem & Jewellery Export Promotion Council (GJEPC). However, the country’s net polished exports, representing the excess of exports over imports, rose 11 percent to $985.6 million.

Rough diamond imports fell 22 percent to $686.2 million during the month, while rough exports jumped 79 percent to $142.2 million. India’s net rough imports, representing imports less exports, therefore fell 32 percent to $544.1 million.

For the month of October, India registered a net diamond account — the total of polished and rough exports less the total of polished and rough imports — of $441.5 million compared with a net of $88.2 million one year ago.

For the first 10 months of the year, India’s polished diamond exports rose 16 percent to $24.33 billion, while polished imports grew 31 percent to $18.01 billion. Rough imports were up 27 percent to $11.94 billion and rough exports jumped 66 percent to $1.33 billion.

India’s net diamond account for January through October registered a deficit of $4.29 billion, compared with a deficit of $1.38 billion one year ago.

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