India’s polished diamond exports up 14% in July

At the end of July 2011, India’s polished diamond exports valued $1.922 billion, indicating a 14 percent y-o-y increase in value terms and a 3 percent rise in volume terms to 4.925 million carats. The average price of the polished diamonds was up 11 percent to $390.16 per carat. The country’s imports of polished diamonds were 29 percent higher on y-o-y basis to $1.429 billion. The net polished diamond exports stood at $493 million, dipping 13 percent as compared to July 2010.

In the said month, India imported rough diamonds worth $1.886 billion, which was double than that of July 2010 and in volume it was up 19 percent to 15.888 million carats. The average price of rough diamonds imported was 67 percent up to $118.73 per carat. Exports of rough diamonds rose 96 percent to $124 million and the country’s net rough imports valued $1.762 billion (twice that of July 2010).

The net diamond account stood at a deficit of $1.269 billion (deficit of only $312 million in July 2010).