India's July Polished Diamond Exports +37% .

India’s polished diamond exports rose 37 percent year on year to $1.68 billion in July, according to provisional data published by the Gem and Jewellery Export Promotion Council (GJEPC). By volume, polished exports increased 12 percent to 4.743 million carats as prices climbed 22 percent compared with last year to $354.098 per carat for the month.

The country’s polished imports grew 7 percent to $1.11 billion and net polished exports, which measure the excess of exports over imports, nearly tripled to $567.1 million.

Rough imports increased 7 percent year over year to $942.3 million, while rough exports were up 56 percent to $63.4 million. Net rough imports, the excess of imports over exports, grew 5 percent to $878.9 million.

India’s July net diamond account, representing total exports of polished and rough less total imports, rose 52 percent to a deficit of $311.8 million, indicating that the country was a net importer of diamonds in July.

During the first seven months of the year, polished exports jumped 72 percent year on year to $6.78 billion, while by volume, they gained by 20 percent to 32.745 million carats. The average price of polished exports increased 43 percent year on year to $381.62 per carat. Polished imports for January through July were up 50 percent to $7.75 billion as net polished exports grew 125 percent to $4.75 billion.

India’s rough imports increased 92 percent to $6.78 billion, while rough exports grew 56 percent to $527.6 million. Net rough imports grew 97 percent to $6.25 billion.

India’s net diamond account for the year to date fell 42 percent, meaning the country imported $1.5 billion more rough and polished than it exported.

Source : diamonds.net