India Reports Fall in April Polished Diamond Exports

Gem Investing

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.

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.

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