India’s polished diamond exports rose 8 percent year on year to $1.634 billion in April, according to preliminary data from the Gem & Jewellery Export Promotion Council (GJEPC). By volume, exports were flat at 2.605 million carats. Polished imports increased 4 percent to $417 million, leaving net polished exports of $1.217 billion compared with exports of $1.432 billion one year earlier.
India’s rough diamond imports improved 2.7 percent year on year to $1.985 billion in April, while rough exports plunged 35.4 percent to $106 million, leaving net imports 11.9 percent higher at $1.879 billion.
India’s April net diamond account, which is calculated as the difference between net polished exports and net rough imports, fell deeper into a deficit at $662 million compared with a deficit of $242 million one year earlier.
Meanwhile, India's synthetic gemstone imports during April fell 7.3 percent to $5.33 million but synthetic rough exports jumped 105.7 percent to $6.9 million.
During the first four months of 2014, India's polished diamond exports have dropped 8.8 percent year on year to $7.020 billion, while polished imports have fallen 12 percent to $2.282 billion, according to Rapaport News calculations. Net polished exports fell 7.2 percent to $4.738 billion.
Rough imports have increased 9 percent to $6.147 billion and rough exports have plunged 33 percent to $527 million, leaving net rough imports up 15.8 percent at $5.62 billion.
India’s net diamond account for the first four months of the year fell to a deficit of $882 million compared with surplus of $295 million one year earlier.