India's Polished Diamond Exports Up in April, Rough Imports Decline

17/05/2018 10:40

Exports of polished diamonds from the world's largest manufacturing hub, India, remained steady at $1.99 billion during the month of April as compared to March ($2.03 billion), and jumped by 14% compared to the same month a year ago according to figures Gem & Jewellery Export Promotion Council (GJEPC). The increase in value compared to April 2017 stems from a rise in the volume of shipments, from 2.37 to 2.77 million carats (+17%), as the average price per carat fell slightly (-2%) to about $719 per carat. Month-to-month, the volume of polished also remained steady, as India exported 2.81 million carats last month. Polished imports, meanwhile tumbled by 38% year-over-year to $114.4 million

Imports of rough diamonds, on the other hand, fell on a year-to-year as well as monthly basis. Rough imports for the month were down by 13% y-o-y to $1.52 billion from the import of 15.4 million carats, or 9% fewer than in April 2017. Rough imports also declined nearly 10% in value compared to last month, when 17 million carats worth $1.68 billion were imported to the manufacturing center. Rough exports dropped 35% on a year-over-year basis to $77.5 million.