India’s Polished Exports Down in April

Mumbai: India’s polished diamond exports for April fell 2% year on year to $1.75 billion, figures from the nation’s Gem & Jewellery Export Promotion Council (GJEPC) showed this week.

By volume, exports of polished dropped 9% to 2.4 million carats, with the average price growing 8% to $737 per carat. Polished imports slid 17% to $184.9 million, meaning net polished exports crept up 0.4% to $1.56 billion.

Rough imports declined 7% to $1.74 billion, while exports jumped 39% to $119.3 million, leaving net rough imports 10% lower at $1.62 billion.

India’s net diamond account for the month — total exports minus total imports — stood at negative $58.8 million, as the value of the stones the country shipped in was higher than what it sent out. The figure a year ago was negative $237.6 million.

In the first four months of the calendar year, polished exports rose 2% compared to 2016, coming to $7.65 billion. Polished imports dropped 9% to $824 million, and net polished exports increased 3% to $6.82 million. Rough imports went up 5% to $6.11 billion, while rough exports jumped 24% to $597 million, meaning net rough imports increased 3.4% to $5.51 billion.

The net diamond account for the four-month period rose 2.3% to $1.31 billion.