NEW DELHI: India’s polished diamond exports slumped 17 percent year on year to $1.2 billion in December, according to provisional data from the Gem & Jewellery Export Promotion Council. By volume, polished exports dropped 5 percent to 1.9 million carats. Polished imports plummeted 46 percent to $239 million, leaving net exports 4.6 percent lower at $964.3 million.
Rough diamond imports increased 2.4 percent to $1.47 billion and rough exports fell 7.3 percent to $99.6 million, leaving net imports 3.2 percent higher at $1.37 billion. India’s net diamond account, which is calculated as the difference between net polished exports and net rough imports, was negative $402.2 million, compared with negative $313.4 million in December 2014.
During the month, India imported $2.2 million worth of rough synthetic stones, most of them diamonds. Polished synthetic imports, meanwhile, totaled $11.4 million.
In terms of diamond trading for 2015 as a whole, Rapaport News calculated Indian’s polished diamond exports fell 11 percent to $20.62 billion from a year ago, while polished imports plummeted 53 percent to $3.37 billion. Net polished exports rose 7.3 percent to $17.25 billion.
Rough imports in 2015 dived 22 percent to $13.54 billion, while rough exports fell 25 percent to $1.13 billion, leaving net imports for the year 22 percent lower at $12.42 billion. India’s net diamond account for 2015 was $4.84 billion, compared with $151 million in the previous year.
