Increased polished imports in May for India

Rough exports increased by 49 percent
Increased polished imports in May for India

India rode on a high wave in May, as noted by the performance of its polished diamond industry. The Gem and Jewellery Export Promotion Council has released the net polished diamond imports rising at 71 percent, to value at to $482.76 million, When juxtaposed against the 32 percent rise in diamond exports ($1.28 billion) in May 2008, the net polished exports valued at 17 percent higher to $799.12 million.

The rough imports rose by 23 percent to $917.28 million, and exports by nearly double the rise - 49 percent valuing at $51.64 million.

The net diamond account (net polished exports less net rough imports) for India in May, was a decline into the red at negative $66.52 million, from negative $25.91 million in May 2007. Net rough imports (rough imports minus exports) increased by 22 percent to $865.64 million. Taking into account the first five months of 2008, India exported 33 percent more of its polished diamonds, with diamond exports valuing at to $6.65 billion. Polished imports were a huge 179 percent higher over that of last year, amounting to $2.92 billion. Net polished exports declined by 6 percent to $3.73 billion.


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