India's Diamond Trade: Continued Double Digit Decline April-July

According to data from the GJEPC, trade in India was down across the board comparing April to July figures in 2024 to the same period in the previous year:

• Overall exports of gems & jewellery declined 11% to US$9.7bn
• Overal imports of gems & jewellery declined 1.5% to nearly US$7bn
• Imports of rough diamonds declined 16% to US$4.3bn
• Exports of polished diamonds declined 19% to US$5.7bn
• Exports of polished lab-grown diamonds declined nearly 7% to US$414.6m

Notably in July, comparing to July 2023:

• Overall exports of gems & jewellery declined 23% to US$1.7bn
• Overall imports of gems & jewellery declined17% to US$1.4bn
• Exports of polished diamonds declined 23% to US$907.7m
• Imports of rough diamonds declined 9% to US$913m
• Exports of polished lab-grown diamonds declined 10% to US$94.7m

Photo credit: Envato Elements