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India’s Polished Exports Grow in September

Rough imports drop ahead of Diwali.
Oct 22, 2017 7:10 AM   By Rapaport News
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India’s polished-diamond exports increased 6% year on year to $2.65 billion in September, according to data the nation’s Gem & Jewellery Export Promotion Council (GJEPC) recently released.

By volume, exports rose 24% to 3.9 million carats, with the average price down 14% to $677 per carat, the data showed. Polished imports fell 6% to $174 million, meaning net polished exports increased 7% to $2.48 billion.

Rough imports slid 18% to $1.47 billion, reflecting a global slowdown in rough trading as the earlier-than-usual date of Diwali meant many manufacturers brought their purchases forward to August. Rough exports declined 7% to $143.6 million, with net rough imports falling 19% to $1.32 billion.

India’s net diamond account for September — calculated as total rough and polished exports minus total imports — jumped 71% to $1.16 billion.

In the first nine months of the year, polished exports grew 2% year on year to $17.79 billion, while polished imports fell 13% to $1.84 billion. Net polished exports increased 4% to $15.95 billion. Rough imports climbed 6% to $13.53 billion, with rough exports advancing 4% to $1.17 billion and net rough imports growing 6% to $12.36 billion. The net diamond account for the period slipped 2% to $3.59 billion.
Tags: Diwali, exports, Gem & Jewellery Export Promotion Council, GJEPC, India, net diamond account, polished exports, polished imports, Rapaport News
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