India’s polished diamond exports drop 40% in December 2011

In December 2011, there was a 40 percent y-o-y decline in polished diamond exports from India, leading to a total value of $1.495 billion. The country imported polished diamonds worth $1.143 billion or a 48 percent drop on y-o-y basis. The month closed with the net polished exports (being the excess of exports over imports) rising 16 percent to $352.41 million.

The rough diamond trade gave some respite. Rough diamond imports rose 4 percent on y-o-y basis to $1.307 billion and rough diamond exports were up 49 percent to $129.17 million. Net rough imports (being imports less exports) reflected almost similar levels as last year – at $1.178 billion.

The month closed with the country’s net diamond account reflecting a deficit of $825.09 million (December 2010 reflected a deficit of $871.01 million).