India’s polished diamond exports drop 28% in October

In October 2012, polished diamond exports from India took a 28 percent plunge (on y-o-y basis) in value terms to $1.339 billion, while the volume of the said exports dropped 27 percent to 2.834 million carats. The average price ‎of the polished diamond exports declined 2 percent to $472.57 per carat.‎

Polished diamond imports dropped 47 percent in value to $480.31 million.

The country’s net polished exports (valued as excess of exports over imports) decreased 11 ‎percent to $858.95 million.‎

In terms of the country’s rough diamond trade, the exports of rough diamonds slid 30 percent to $99.65 million. Rough diamond imports increased 109 percent to $1.475 billion. The net rough imports (valued as imports ‎less exports) rose 144 percent to $1.375 billion.

The country’s net diamond account (valued as total exports of polished and rough ‎less total imports) stood at a deficit of $516.91 million (the same reflected a surplus of $402.21 million in October 2011).