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India’s Polished Exports Drop

Slump in volume outweighs higher average price in September.
Oct 17, 2018 10:51 AM   By Rapaport News
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RAPAPORT... India’s polished-diamond exports fell in September, according to data from the nation’s Gem & Jewellery Export Promotion Council (GJEPC).

Polished exports decreased 11% year on year to $2.37 billion and, by volume, fell 29% to 2.78 million carats. The average price rose 26% to $851 per carat.

Polished imports dropped 7% year on year to $163 million, while net polished exports — the excess of exports over imports — slipped 11% to $2.20 billion.

Rough imports fell 14% to $1.25 billion, while rough exports plummeted 50% to $85 million. Net rough imports decreased 10% to $1.17 billion.

The country’s net diamond account — the sum of rough and polished exports minus total imports — fell 12% to $1.03 billion.

Image: A polished diamond in tweezers. (Luibov Luganskaia/Shutterstock)
Tags: Gem & Jewellery Export Promotion Council, GJEPC, net diamond account, polished exports, Rapaport News
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