India’s polished diamond exports rise 23%

In January 2011, India’s diamond trade faced increased prices both of rough diamond imports (average 27 percent increase per carat) and polished diamond exports (average increased by 25 percent per carat).

The country exported 4.784 million carats of polished diamonds, indicating a 1 percent dip y-o-y with respect to volume, but value-wise rose 23 percent y-o-y to $2.11 billion. The average prices of the polished exports touched $441.63 per carat, with a 25 percent increase. Imports of polished diamonds increased by 120 percent to $2.28 billion. The country’s net polished exports decreased to negative $166.1 million (positive $673.7 million in January 2010).

In the said month, the country’s rough diamond imports increased 16 percent to $1.02 billion and dipped 9 percent to 12.437 million carats in volume terms. The average price of rough imports stood at $81.87 per carat after a 27 percent rise. Exports of rough diamonds increased in value by 52 percent to $90 million. Net rough imports (imports less exports) also increased 14 percent to $928.1 million.

For the month, the country’s net diamond account (total exports of rough and polished less total imports) dropped to negative $1.09 billion (January 2010: negative $143 million).

India's total gem and jewellery exports in January 2011 valued US$ 2,865.66 million, rising 22.52 percent y-o-y. Gold jewellery exports rose 15.38 percent y-o-y to US$ 569.32 million, while exports of coloured gemstones was up 3.81 percent y-o-y to US$ 40.36 million.