India’s polished-diamond exports jumped 20% by value in August amid a 26% increase in the average price, according to data the nation’s Gem & Jewellery Export Promotion Council released recently. Rough imports fell 8% during the same period.
India Diamond Trade Data for August 2018
|Millions unless stated otherwise||Aug 2018||Year-on-year change|
|Net polished exports||$2,057||23%|
|Net rough imports||$783||-11%|
|Net diamond account||$1,274||61%|
|Polished exports: volume||2,681,000 carats||-5%|
|Average price of polished exports||$813/carat||26%|
|Jan-Aug 2018||Year-on-year change|
|Net polished exports||$15,756||17%|
|Net rough imports||$11,083||0%|
|Net diamond account||$4,673||92%|
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: The Indian pavilion at the June Hong Kong Jewellery & Gem Fair. (GJEPC)