India’s polished-diamond exports jumped 20% year on year to $2.37 billion in February, according to recent data from the country’s Gem & Jewellery Export Promotion Council (GJEPC).
The total was the highest since October 2021 and reflected a rise in volume. The average price fell 2%.
Sources: 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.
Main image: Diamond cutting in Surat, India. (Shutterstock)