India's Polished Diamond Exports Rise 7% in H1 2018 Despite September Decline

Rough Market
16/10/2018 14:30

India’s polished diamond exports rose by 6.6% during the six-month period ended September 30, 2018 (H1 FY 2018-19) despite a dip of 10.8% in exports during the month of September, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Exports of cut and polished diamonds from India during September fell to $2.37 billion from $2.65 bn in September 2017, while polished diamond exports from April-September 2018 increased $2.68 billion from the $11.90 bn exported over the same months last year.

As anticipated based on recent indications, rough imports declined 14.5% in value terms during the month of September to $1.25 billion as compared to $1.47 billion imported during the the same month a year ago. In volume terms, rough imports increased from 15.72 million carats during September 2017 to 16.10 mn carats during September this year. During the fiscal year to date (April-Sept.), imports of rough diamonds showed a decline of 8% to $8.42 billion from $ 9.16 bn a year earlier. In volume terms, imports fell by 7% from 91.05 mn carats in April-September 2017 to 84.66 mn carats in the same period this year.

Meanwhile, imports of cut and polished diamonds were down by 6.6% to $162.86 million in September 2018 from $174.29 m a year earlier. Total gem and jewelry exports for the month of September declined by 19% to  $3.4 billion as compared to $4.3 billion a year earlier, while total imports declined by 20% to $2 billion as compared to nearly $2.5 billion for the same month during the previous year.