India’s February Polished Diamond Exports up 16%
India’s polished diamond exports grew 16 per cent year on year to $2.16 billion in February 2014, according to preliminary data from the Gem & Jewellery Export Promotion Council (GJEPC). By volume, exports rose 14 per cent to 3.318 million carats. Polished imports increased 20 per cent to $564.5 million during the month. India’s net polished exports, representing the excess of exports over imports, rose 15 percent to $1.6 billion.
India’s rough diamond imports grew 12 percent to $1.49 billion in February, while rough exports dropped 34 per cent to $112.5 million. Net rough imports, or the excess of imports over exports, rose 18 per cent to $1.377 billion.
India’s February net diamond account, which is calculated as the total of polished and rough exports less total imports, decreased 3 per cent to $222.9 million.
In February, India’s imports of rough synthetic stones, including synthetic diamonds and gemstones, fell 23 per cent to $4.3 million, while synthetic stone imports more than doubled to $7.12 million. Total synthetic stone exports more than doubled to $10.9 million.
During the first two months of 2014, India’s polished exports fell 9 percent to $3.225 billion, while polished imports remained flat at $1.076 billion, according to Rapaport Newscalculations. Rough imports rose 12 per cent to $1.49 billion and rough exports grew 18 percent to $1.377 billion. India’s net diamond account for the first two months of the calendar year rose 11 percent to $2.036 billion.
April-Feb tax year exports up by 20.5 per cent
In the April to February tax year so far, polished exports have risen 20.5 percent to almost $18.15 billion. In imports of polished goods, there was a 19.8-per cent rise to $564.5 million in February, and an increase of 31.8 per cent to $5.84 billion in April to December.
As for rough diamond imports, they jumped by 11.8 per cent on the year to $1.49 billion in February, and in the April-February period they rose by 13.6 percent to $15.33 billion. Exports of rough diamonds dropped by 34.1 per cent to $112.6 million in February, while for April-February rough exports increased by 1.5 percent to $1.40 billion.
Exports of synthetic stones in February were $11.0 million, and $72.0 million in April to February. Imports of synthetic stones in February came to $3.95 million, and $72.6 million in April-February.