India Reports Fall in April Polished Diamond Exports

Rapaport reported that India’s polished diamond exports sank 11 percent in April from the previous year, to $1.636 billion. The volume of goods exported slipped 5.7 percent, to 2.524 million carats.

The data comes from the Gem & Jewellery Export Promotion Council.

As quoted in the market news:

Rough imports fell 31.1 percent year on year to $1.371 billion and rough exports rose 4.9 percent to $112 million, leaving net imports 33 percent lower at $1.259 billion. India’s net diamond account in April, reflecting the difference between net exports and imports, totaled $133 million compared with a deficit of $662 million in 2014.

Also, during the month, rough synthetic stone imports surged to $10 million compared with only $810,000 in April 2014. polished synthetic stone imports rose 3 percent to $5.6 million and polished synthetic exports jumped 21.3 percent to $8.4 million.

During the first four months of the year, India’s natural polished diamond exports rose 6.5 percent to $7.476 billion, while polished imports dropped 33.3 percent to $1.522 billion, leaving next exports up 25.7 percent at $5.954 billion.

Rough imports plummeted 30 percent to $4.796 billion, rough exports dropped 12.1 percent to $463 million and net imports fell 22.9 percent to $4.333 billion. India’s net diamond account in the first four months of the year rose to $1.621 billion compared with a deficit of $882 million one year earlier.

 Click here to read the full Rapaport report.