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India’s Diamond trade grows in 2017

India’s Diamond trade grows in 2017

MUMBAI: India’s polished-diamond exports increased 2.1% to $23.09 billion in 2017 as the nation shipped out a higher volume of goods.  By weight, exports jumped 14% to 37.3 million carats, while the average price slipped 11% to $620 pcarat, Rapaport calculations show. Net polished exports  representing exports minus imports  jumped 3.8% to $20.71 billion, according to the figures, which are based on monthly data published by the nation’s Gem & Jewellery Export Promotion Council (GJEPC).

Rough imports grew 11% to $18.46 billion, while exports increased 7% to $1.52 billion. Net rough imports  imports minus exports  rose 11% to $16.94 billion.  India’s 2017 net diamond account  calculated as total rough and polished exports minus total imports, measuring the added value of the nation’s diamond industry  declined 20% to $3.76 billion.