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India Trade Slows in December

Polished exports slide 17% for the month.
Jan 21, 2019 10:11 AM   By Rapaport News
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RAPAPORT...
India’s polished exports fell in December, according to data from the Gem & Jewellery Export Promotion Council (GJEPC). However, shipments for the full year increased amid a higher average price, while volume dropped. This reflects traders’ shift toward larger goods amid weakness in the small-stone sector.

India Trade Data for December 2018

$ Millions unless stated otherwise Dec 2018 Year-on-year change
     
Polished exports $1,313 -17%
Polished imports $112 -49%
Net polished exports $1,202 -12%
Rough imports $1,737 -20%
Rough exports $106 -10%
Net rough imports $1,631 -21%
Net diamond account -$429 Deficit declined 38%
     
Polished exports: volume 2 million carats -11%
Average price of polished exports $663/carat -6%
     
     
  Q4 2018 Year-on-year change
Polished exports $5,181 -2%
Polished imports $269 -50%
Net polished exports $4,912 3%
Rough imports $3,656 -26%
Rough exports $326 -8%
Net rough imports $3,331 -27%
Net diamond account $1,582 825%
     
Polished exports: volume 6.8 million carats -10%
Average price of polished exports $765/carat 9%
     
     
  H2 2018 Year-on-year change
Polished exports $11,567 1%
Polished imports $689 37%
Net polished exports $10,878 5%
Rough imports $7,475 -14%
Rough exports $628 -11%
Net rough imports $6,847 -14%
Net diamond account $4,031 73%
     
Polished exports: volume 14.5 million carats -17%
Average price of polished exports $798/carat 22%
     
     
  Full Year 2018 Year-on-year change
Polished exports $24,395 6%
Polished imports $1,524 -36%
Net polished exports $22,871 10%
Rough imports $16,868 -9%
Rough exports $1,287 -17%
Net rough imports $16,728 -1%
Net diamond account $7,289 93%
     
Polished exports: volume 31.5 million carats -10%
Average price of polished exports $775/carat 17%


Source: 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.

Image: Bharat Diamond Bourse.
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Tags: Gem & Jewellery Export Promotion Council, GJEPC, India data, India polished exports, net diamond account, net polished exports, polished exports, Rapaport News
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