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India’s polished diamond exports down 17.82% in September

23 october 2019

india_flag.pngIndia’s cut and polished diamond exports declined by 17.82% year-on-year totalling $ 1.95 bln during September as against $ 2.37 bln registered in September 2018, according to provisional data released by the Gem& Jewellery Export Promotion Council of India.
Rough imports during the month fell by 7.88% to $ 1.16 bln as compared to $ 1.25 bln imported during September in the previous year. In volume terms, rough imports fell by 5.78% from 16.1 mln carats during September 2018 to 15.17 mln carats in September 2019.
However, imports of cut and polished diamonds declined 24.62% to $ 122.77 mn in September 2019 from $ 162.86 mn in the same month in 2018.
Exports of rough diamonds totalled $ 51.03 mln in September 2019 as compared to $ 85.42 mln a year earlier.
Exports of rough lab-grown diamonds stood at $ 0.25 mln in September 2019, down from $ 0.35 million in the same month a year earlier. Exports of polished lab-grown diamonds stood at $ 42.04 mln during the month as against $ 17.72 mln a year earlier.
Imports of rough lab-grown diamonds stood at $ 10.05 mln during the month, up from $ 8.92 mn a year ago, while imports of polished lab-grown diamonds rose to $ 31.59 mln in September 2019 as compared to $ 7.60 mln a year earlier.
India’s polished diamond exports during April-September 2019 were down 18.84% to $ 10.29 bln as against the $ 12.68 bln exported over the same months last year. 
Imports of polished diamonds too fell by 18.20% to $ 628.70 mln as compared to $ 768.60 mln for the same period of the previous year.
During April-September 2019, import of rough diamonds showed a decline of 22.51% to $ 6.52 bln from $ 8.42 bln a year earlier. In volume terms, imports fell by 11.38% from 84.66 mln cts in April-September 2018 to 75.02 mln cts in the same period in the current fiscal.
Exports of rough diamonds totalled $ 614.98 mln in April-September 2019 as compared to $ 603.14 mln a year earlier.
Exports of rough lab-grown diamonds stood at $ 6.77 mln in April-September 2019 as against $ 5.74 mln in the same period a year earlier. Exports of polished lab-grown diamonds stood at $ 200.33 mln during the April-September 2019 period as against $ 96.96 mln a year earlier.
Imports of rough lab-grown diamonds stood at $ 74.45 mln in the first six months of the fiscal, up from imports of $ 65.03 mln a year ago, while imports of polished lab-grown diamonds rose to $ 121.19 mln in April-September 2019 as compared to $ 36.62 mln a year earlier.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished