India Incurs Drop in Polished Diamond Exports for November

Rapaport reported that in November, India’s polished diamond exports sank 15 percent compared to the previous year. All in all, their value declined to $1.32 billion.
As quoted in the market news:

By volume, polished exports fell 16 percent to 2.2 million carats. Polished imports nosedived 72 percent to $147.4 million, leaving net exports – polished exports minus imports – 14 percent higher at $1.17 billion.
Rough diamond imports plummeted 60 percent to $624.9 million and rough exports slumped 34 percent to $62.1 million, leaving net imports – rough imports minus exports – 61 percent lower at $562.8 million. India’s net diamond account, which is calculated as the difference between net polished exports and net rough imports, increased from negative $422 million in November 2014 to positive $612.1 million this year.
During the month, India imported $630,000 worth of rough synthetic stones, most of them diamonds. Polished synthetics imports, meanwhile, totaled $5.8 million and exports were $6 million.

Click here to read the full Rapaport report.