India's Oct. Polished Exports +38%.

India’s polished diamond exports rose 38 percent year on year to $2.07 billion in October 2010, the Gem & Jewellery Export Promotion Council reported. By volume the exports increased 29 percent to 5.118 million carats as the average price of the polished grew 7 percent to $403.5 per carat.

Polished imports to India rose 49 percent to $1.18 billion during the month and net polished exports, the excess of exports over imports, grew 25 percent to $887.3 million.

India’s rough diamond imports increased 44 percent to $877.3 million, while exports rose 53 percent to $79.6 million. Net rough imports, imports less exports, grew 43 percent to $797.7 million.

India’s October net diamond account, or total exports less total imports, fell 42 percent to show India was a net exporter of polished diamonds worth $89.6 million during the month.

During the first 10 months of the year, India’s polished exports rose 61 percent to $19.26 billion with the average price on the diamonds up 34 percent year on year to $388.7 per carat. Polished imports grew 53 percent to $12 billion as net polished exports increased 77 percent to $7.26 billion.

Rough imports rose 76 percent to $9.32 billion and rough exports increased 36 percent to $769.9 million. Net rough imports jumped 81 percent to $8.55 billion.

India’s net diamond account for January through October fell by 104 percent to a deficit of $1.29 billion indicating India was a net importer of diamonds for the period.

Source : diamonds.net