Sunday, January 19, 2014
India's Polished Diamond Exports +16% in December
India’s polished diamond exports grew 16 percent year on year to $1.1 billion in December 2013, according to preliminary data from the Gem & Jewellery Export Promotion Council (GJEPC). By volume, exports dropped 8 percent to 1.874 million carats.
Polished imports fell 11 percent to $380.40 million during the month. India’s net polished exports, representing the excess of exports over imports, rose 37 percent to $720.43 million.
India’s rough diamond imports declined 7 percent to $1.652 billion in December, while rough exports increased 32 percent to $104.32 million. Net rough imports, or the excess of imports over exports, fell 8 percent to $1.548 billion.
India’s December net diamond account, which is calculated as the total of polished and rough exports less total imports, improved to a deficit of $827.8 million from a deficit of $1.162 billion one year ago.
In December, India's imports of rough synthetic stones, including synthetic diamonds and gemstones, more than doubled to $6.8 million, while synthetic stone imports declined 50 percent to $6.54 million. Total synthetic stone exports more than doubled to $7.4 million.
During the full year 2013, India’s polished exports rose 21 percent to $20.484 billion, while polished imports grew 29 percent to $6.864 billion, according to Rapaport News calculations. Rough imports rose 8 percent to $16.304 billion and rough exports grew 17 percent to $1.785 billion. India’s net diamond account for the 12-month period improved to a deficit of $899.8 million, from a deficit of $1.949 billion one year earlier.
For the first 12 months of 2013, India's rough synthetic more than doubled to $75 million, synthetic stone imports grew 62 percent to $82.8 million and total synthetic exports rose 14 percent to $56 million.