India's export of polished diamonds dip by 24% in March

Diamond trade for India during the month of March has seen a downward trend. Exports of polished diamonds dipped by 24 percent to $1.1 billion, while imports of polished goods decreased by 17 percent to $616 million. The month’s net polished exports (excess of exports over imports) went down by 31 percent and amounted to $524.1 million.

The trade of rough diamonds too did not fare well. Import of rough diamonds were down by a whooping 57 percent to $311.3 million, but exports of roughs fell considerably less by 13 percent to $60.1 million. The net rough import account (rough imports less rough exports) decreased by 61 percent to $251.3 million. Overall the net diamond account for the country in the said month, which measures total exports less total imports, has shown an increase of 151 percent to $272.8 million.

Considering the diamond trade for the three months ending March 31, 2009, the country’s polished diamond exports were lowered by 33 percent to $2.8 billion, and imports by 12 percent to $1.6 billion. Import of rough diamonds also fell by 71 percent to $738.6 million, and exports by 5 percent to $164.7 million.