India’s polished diamond exports drop 8% in May

In May 2014, India’s polished diamond exports took a drop of 8 percent (on y-o-y basis)to $1.6 billion, reports say. But there was a 6 percent increase in exports of rough diamonds (on y-o-y basis), which valued $142.53 million in the said month. Rough diamond imports decreased 6 per cent to $1.55 billion.

In the five months from January – May 2014, India’s polished diamond exports dropped 8.7 per cent to $8.656 billion. Imports of polished diamonds also dropped, by 13.7 percent to $2.704 billion. In the span of these five months, India’s net exports stood at $5.952 billion ($6.349 billion in the same period last year.)

In May, the diamond account (difference between net polished exports and net rough imports) was in a deficit of $192.25 million, a figure lower than last year’s comparable period when the deficit was $263.08 million.