India’s January Polished Diamond Exports -42%

(IDEX Online News) – India’s polished diamond exports slumped 42 percent in January, according to preliminary data released by the Gem and Jewelry Export Promotion Council (GJEPC).

Cut and polished diamond exports fell to $1.04 billion compared to $1.79 billion a year previously. This figure is despite an increase in the number of carats exported, up from 171, 810 in January 2015 to 278, 400 in 2016.

Imports of rough diamonds rose 16 percent, increasing to $991 million compared to $851 million a year previously. A year-over-year analysis showed that rough imports declined 22 percent by value from April 2015-January 2016 ($11.1 billion) compared to April 2014-January 2015 ($16.8 billion).

Rough exports showed a marginal 0.7-percent increase, improving from $106 million in January 2015 to $107 million in January 2016.

Exports of colored gemstones fell to $337 million compared $48.67 million in the prior year period, which represents a 24-percent decline. Colored gemstone imports increased approximately 50 percent, rising to $120 million from $80 million over the same period a year previously.

India exported $2.79 million worth of synthetic stones during January, down from $8.11 million in January 2015. It imported $10.41 million over the period compared to $5.59 million over the same period in the prior year.

Gold jewelry exports increased 12.6 percent to $601 million compared to $533 million in January 2015.