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India’s Polished Trade Slows Further

Exports decline for sixth consecutive month.
May 27, 2019 8:18 AM   By Rapaport News
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RAPAPORT... India’s polished-diamond exports slid 18% to $1.64 billion in April, representing the sixth consecutive month of year-on-year decline. Lower volumes outweighed a rise in the average price. Rough imports also fell, reflecting slow demand since the start of 2019.

India Trade Data for April 2019

Millions unless stated otherwise Apr 2019 Year-on-year change
     
Polished exports $1,643 -18%
Polished imports $78 -32%
Net polished exports $1,565 -17%
Rough imports $1,443 -5%
Rough exports $136 75%
Net rough imports $1,308 -9%
Net diamond account $257 -42%
     
Polished exports: volume 2.1 million carats -23%
Average price of polished exports $768/carat 7%
     
     
Millions unless stated otherwise Jan-Apr 2019 Year-on-year change
     
Polished exports $7,596 -11%
Polished imports $368 -39%
Net polished exports $7,229 -9%
Rough imports $5,095 -19%
Rough exports $560 29%
Net rough imports $4,535 -23%
Net diamond account $2,694 31%
     
Polished exports: volume 9.5 million carats -16%
Average price of polished exports $798/carat 6%


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. (Rapaport News)
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Tags: Average Price, data, India, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, polished-diamond exports, Rapaport News, rough exports, rough imports, trade data
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