India’s polished diamond exports dropped 9% in October

India noted a dip in its polished diamond trade in October 2011, with polished diamond exports dropping 9 percent on y-o-y basis to $1.89 billion and polished diamond imports falling by 24 percent y-o-y to $899.5 million. Net polished exports (valued as the excess of exports over imports) increased 11 percent to $985.6 million.

The month delivered a 22 percent (on y-o-y basis) drop in rough diamond imports, which valued $686.2 million. But exports of rough diamond rose by a whopping 79 percent to $142.2 million.Net rough imports (valued as imports less exports) dropped 32 percent to $544.1 million.

The country’s net diamond account (valued as the total of polished and rough exports less the total of polished and rough imports) stood at $441.5 million (the same was worth $88.2 million in October 2010).