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RAPAPORT… India’s polished-diamond exports fell 25% to $1.17 billion in
November, reflecting a decline in the volume of shipments and the average price.
However, rough imports increased 32%, partly due to the timing of Diwali, which
occurred in October, whereas last year it was in November. Indian manufacturers
close for the festival season, resulting in lower rough demand.
India Trade Data for November 2019
| Nov 2019 | Year-on-year change | |
| Polished exports | $1,169 | -25% |
| Polished imports | $118 | 81% |
| Net polished exports | $1,051 | -30% |
| Rough imports | $1,231 | 32% |
| Rough exports | $95 | 7% |
| Net rough imports | $1,136 | 35% |
| Net diamond account | -$85 | 2018: Surplus of $655M |
| Polished exports: volume | 1.7 million carats | -9% |
| Average price of polished exports | $683/carat | -17% |
| Jan-Nov 2019 | Year-on-year change | |
| Polished exports | $19,363 | -16% |
| Polished imports | $1,202 | -15% |
| Net polished exports | $18,161 | -16% |
| Rough imports | $12,396 | -18% |
| Rough exports | $1,232 | 4% |
| Net rough imports | $11,163 | -20% |
| Net diamond account | $6,998 | -9% |
| Polished exports: volume | 25.8 million carats | -13% |
| Average price of polished exports | $750/carat | -4% |
| All numbers in millions unless stated otherwise. |
Source: Gem & Jewellery Export Promotion Council; Rapaport
archives
About the data: India, the world’s largest diamond-cutting
center, is a net importer of rough and a net exporter of polished. As such, net
polished exports — representing polished exports minus polished imports —
will usually be a positive number. Net rough imports — calculated as
rough imports minus rough exports — will also generally be in surplus. The net
diamond account is total rough and polished exports minus total imports. It
is India’s diamond trade balance, and shows the added value the nation creates
by manufacturing rough into polished.
Image: The Bharat Diamond Bourse in Mumbai. (Rapaport News)
