Polished exports from India dip 13% in value

Polished diamond exports from India during June 2009, increased in volume by dipped in value, reports say. With a 13 percent drop, the country’s polished exports valued at $1.1 billion, following a 27 percent drop in average per carat price valuing at $271.1 year-on-year, as reports from GJEPC say. Volume-wise polished exports increased 19 percent to 3.972 million carats.

Imports of polished diamonds in the month also dipped in value by 5 percent to $640.5 million. This brought the net polished exports, (exports less imports) to dip by 22 percent to $436.4 million.

Rough diamond imports decreased by 39 percent to $769.6 million, and rough exports by 40 percent to $56.9 million. The net rough imports, (imports less exports) was lowered by 39 percent to $712.7 million. In effect, India’s June net diamond account, (calculated basis the excess of total exports over total imports) showed a 54 percent upswing as compared to a year ago, although reflecting a $276.3 million deficit.