India’s polished diamond exports drop 7% in January

In January 2013, India’s polished diamond exports plunged both in value and volume. There was a 7 percent drop in value (on y-o-y basis) to $1.689 billion, while the volume of the said exports declined 11 percent to 3.122 million carats, reports add. There was a 4 percent increase in the average price ‎per carat, which valued $540.94.

Polished diamond imports also dipped in value by 39 percent to $597.70 million, reports say. The country’s net polished exports (valued as excess of exports over imports), increased 30 percent to $1.091 billion.

In its rough diamond trade, the country noted a drop in value of imports by 11 percent to $986.41 million and in volume by 6 percent to 10.869 million carats, reports add. Exports of rough diamonds increased 13 percent to $173.38 million. The country’s net rough imports (valued as rough imports less exports) dropped 15 percent to $813.03 million.

The country’s net diamond account in the month (valued as total exports less total imports) stood at a surplus of $278.08 million (January 2012: deficit of $115.45 million).