Acording to provisional data released by The Gem & Jewelry Export Promotion Council (GJEPC), India’s polished diamond exports fell by 2% in April to US$1.75 bn, compared with the same month a year earlier. What is telling however is that in the four months of the calendar year, polished exports have risen 2% compared with 2016, reaching $7.65 bn.
By volume polished exports in April dropped by 9% to 2.4 million carats however the average price per carat did improve by 8% to $737. Polished imports dropped by 17% to $184.9m, indicating a slight growth for polished exports of 0.4% to $1.56bn. Rough diamond imports during the same period were $1.74bn, a 7% decline in value terms compared with the previous year. Rough exports saw a significant rise of 39% to $119.3 million, indicating net rough imports are 10% at $1.62 bn.
India’s net diamond account for the month - total exports minus total import - stood at negative $58.8 million. This is largely due to the value of the stones the country shipped in being higher than what was sent out. The figure a year ago was negative $237.6 million. In the four months of the calendar year polished imports dropped 9% to $824 million, while net polished exports increased by 3% to $6.82 million. Rough imports went up 5% to $6.11 billion, while rough exports jumped 24% to $597 million, which means that net rough imports increased 3.4% to $5.51 billion. The net diamond account for the four-month period rose 2.3% to $1.31 billion.