RAPAPORT… India saw its best May for polished-diamond exports in seven years, with shipments growing 8% year on year to $2.21 billion. That mainly reflects a 27% jump in the average price, which came to $775 per carat. The month’s figures include goods shipped to the US for the Las Vegas trade shows in the first week of June.
India Diamond Trade Data for May 2018
| $ Millions unless stated otherwise | May 2018 | Year-on-year change |
| Polished exports | 2,214 | 8% |
| Polished imports | 93 | -62% |
| Net polished exports | 2,121 | 18% |
| Rough exports | 117 | -8% |
| Rough imports | 1,549 | -17% |
| Net rough imports | 1,432 | -18% |
| Net diamond account | 689 | 978% |
| Polished exports: volume (thousand carats) | 2,857 | -15% |
| Average price of polished exports ($/carat) | 775 | 27% |
| Jan-May 2018 | Year-on-year change | |
| Polished exports | 10,744 | 11% |
| Polished imports | 694 | -35% |
| Net polished exports | 10,050 | 17% |
| Rough exports | 551 | -24% |
| Rough imports | 7,860 | -1% |
| Net rough imports | 7,309 | 1% |
| Net diamond account | 2,741 | 100% |
Source: Gem & Jewellery Export Promotion Council; Rapaport calculations and 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.
