A Sharp Drop in Imports Propels India’s Net Polished Exports
October 16, 11
(IDEX Online News) – Despite a weakening polished diamond trade that started in August, India’s net polished diamond exports soared in September. Net exports of $1.15 billion in September are up 70.4 percent year-over-year, based on figures released by the GJEPC.
India’s gross polished diamond exports totaled $2.49 billion in September, rising 3.7 percent from the previous year. The volume of exports, 5.5 million carats, declined 1.6 percent.
The average value of gross exports stood at $449.69 per carat, rising 5.5 percent compared to the $426.38 p/c average value of exports the year before.
Imports of polished diamonds dropped 22.4 percent to $1.34 billion in September.
In the first half of the Indian fiscal year (April-September), gross polished diamond exports increased 4.4 percent to $13.3 billion.