India’s polished diamond exports up 59% in March’11

India’s exports of polished diamonds in March 2011, rose 59 percent (y-o-y) to $3.958 billion, while imports of polished diamonds increased 79 percent (y-o-y) to $3.319 billion. The net polished exports valued $639 million, indicating a 6 percent decrease (y-o-y).

Imports of rough diamonds rose 32 percent (y-o-y) to $1.183 billion, while rough diamond exports valued $166 million increasing by a whooping 110 percent. The net rough imports amounted to $1.017 billion with a 27 percent increase (y-o-y).

The country’s polished export deficit in the month was at $378 million.

The quarter January – March 2011 delivered polished diamond exports worth $9.178 billion, an increase of 88 percent (y-o-y), and imports of polished diamonds worth $7.979 billion with an increase of 170 percent (y-o-y). The country’s net polished exports dropped 38 percent to $1.199 billion. In the quarter, the imports of rough diamonds rose 20 percent to $3.283 billion and rough diamond exports increased 87 percent to $370 million. Net rough imports increased 14 percent to $2.913 billion.

Net diamond account in the three months stood at $1.714 billion ($610 million in the corresponding quarter of 2010).