Revival in India’s Polished Diamond Trade

Polished diamond exports by India were still weak in July compared to the year before, but the rate of decline is quickly shrinking, a positive sign of recovery. The country exported 4.32 million carats worth $1.24 billion in July, an average value of $286.44 per carat.

Year-over-year, July exports are a 6.5 percent decline in value and a 12.5 percent increase in volume. In June, year-over-year exports declined 16.7 percent in value while rising 5.4 percent in volume.

Polished diamond imports of $762.87 million were a 4.8 percent decline from imports in July 2008, again a narrowing of the rate of decline from 5.2 percent in June.

In volume, India imported 2.69 million carats of polished.

Net exports in July stood at 1.63 million carats carrying a value of $475.72 million. Net exports serve as a further indicator of the revival in the pas month, rising from net exports of $436.55 million in June.