India’s Net Polished Exports +148% to $989M in November

(IDEX Online News) - India’s gross polished diamond exports totaled $1.59 billion in November, an 18.5 percent increase from last year, according to provisional figures released by the Gem & Jewellery Export Promotion Council (GJEPC).

The country’s Imports declined 34 percent to $596.3 million, for net exports of $989.2 million in November. Net exports ballooned 148.2 percent from the $398.6 million exported in November 2009.

The sharp rise in exports is a promising indicator for the holiday season, mainly in the U.S., India’s main polished diamond exports destination.

In volume, gross exports have however decreased by 8.9 percent to 3.5 million carats. This translates to a 30.1 percent increase in the average value of exports - $448.66 p/c.

Imports of 1.7 million carats averaged $351.81 p/c, while net exports of 1.8 million averaged $537.92 p/c.