India’s November polished diamond exports fell 27 percent year on year to $1.182 billion, while polished imports declined 20 percent to $803.49 million, according to provisional data provided by the Gem & Jewellery Export Promotion Council (GJEPC). The country’s net polished exports, representing the excess of exports over imports, declined 38 percent to $378.73 million.
For the month of November, India’s net diamond account — the total of polished and rough exports less the total of polished and rough imports — registered a deficit of $644.84 million compared with a deficit of $124.19 million one year ago.
For the first 11 months of the year, India’s polished diamond exports rose 13 percent to $25.514 billion, while polished imports grew 31 percent to $18.815 billion. Rough imports were up 29 percent to $13.108 billion and rough exports jumped 72 percent to $1.472 billion.
India’s net diamond account for January through November registered a deficit of $4.937 billion, compared with a deficit of $1.105 billion one year ago.