India’s Diamond Trade Grows in 2017

RAPAPORT… India’s polished-diamond exports increased 2.1% to $23.09
billion in 2017 as the nation shipped out a higher volume of goods.



By weight, exports jumped 14% to 37.3 million carats, while
the average price slipped 11% to $620 per carat, Rapaport calculations show. Net
polished exports — representing exports minus imports — jumped 3.8% to $20.71
billion, according to the figures, which are based on monthly data published by the nation’s Gem
& Jewellery Export Promotion Council (GJEPC).


Rough imports grew 11% to $18.46 billion, while exports
increased 7% to $1.52 billion. Net rough imports — imports minus exports — rose
11% to $16.94 billion.


India’s 2017 net diamond account — calculated as total rough
and polished exports minus total imports, measuring the added
value of the nation’s diamond industry — declined 20% to $3.76
billion.


In December, India’s polished exports increased 8% to $1.59
billion, while rough imports leapt 56% to $2.18 billion.