A Rise in India's Polished Diamond Exports in November

(IDEX Online News) – India's polished diamond exports increased in November, both compared to October and year-over-year, as the holiday season finally picked up and demand for diamond jewelry increased, mainly in the U.S.

India exported $1.42 billion worth of polished diamonds in November, up 5.6 percent from October and 19.8 percent compared to November 2011, based on data published today by the GJEPC.

Of perhaps more significance to traders, the average value of exports increased as prices started rising. The average value of exports rose 13.4 percent from the previous month.

The volume of exports however declined to 2.6 million carats, down 6.8 percent month-over-month and 10.3 percent year-over-year.

While exports are rising, imports are declining as the center is attempting to lower inventories. Imports of $389.5 million shrank 18.9 percent from the previous month and sliced by more than half from last year.

Source: GJEPC