India’s polished diamond exports drop 44% in May

The month of May delivered 44 percent drop (on y-o-y basis) in India’s polished diamond exports which valued $1.245 billion. The volume of the said exports declined 50 percent to 2.574 million carats.

The imports of polished diamonds were also hit this month, as they dropped by a massive 88 percent (on y-o-y basis) to $194.3 million. The net polished exports (valued as excess of exports over imports) increased 59 ‎percent to $1.051 billion.

The exports of rough diamonds were decreased by 25 percent (on y-o-y basis) to $116.9 million. The imports of rough diamonds decreased 20 percent to $1.135 billion in May. The country’s net rough imports (valued as imports less ‎exports) dropped 20 percent to $1.018 billion.

India’s net diamond account in the month (valued as total of polished and rough exports less the total of ‎polished and rough imports) was worth $32.6 million (deficit of ‎‎$603.1 million in May 2011).