Polished imports more than tripled to $536.98 million during the month. India’s net polished exports, representing the excess of exports over imports, rose 19 percent to $1.243 billion.
India’s rough diamond imports increased 45 percent to $1.640 billion in May, while rough exports grew 15 percent to $134.56 million. Net rough imports, or the excess of imports over exports, rose 48 percent to $1.506 billion.
India’s April net diamond account, which is calculated as the total of polished and rough exports less total imports, fell to a deficit of $263.1 million, from a surplus of $29.1 million one year ago.
During the first five months of the year, India’s polished exports rose 19 percent to $9.481 billion, while polished imports grew 5 percent to $3.132 billion, according to Rapaport News calculations. Rough imports increased 10 percent to $7.282 billion and rough exports rose 27 percent to $920.6 million.
India’s net diamond account improved to a deficit of $13.24 million from a deficit of $918 million one year earlier.
Source:diamonds.net
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