2013, Indian polished exports rose 22% on a year-on-year basis to $ 1.478 billion, according to the Gem & Jewelery Export Promotion Council (GJEPC). The volume of exports in June increased by 7% to 2.776 million carats, reports Rapaport.
Imports of polished diamonds more than doubled in the reporting month to $ 695.31 million. Indian net polished exports (excess of exports over imports) fell 16% year-on-year to $ 783.5 million.
Indian imports of rough diamonds for the month reported a 15- fold increase % to $ 1.373 billion, while diamond exports decreased by 1% to $ 111.75 million. Thus, the net import of rough diamonds (excess of imports over exports) in June increased by 17% to $ 1.261 billion.
In June, India's net diamond account (the difference in total exports and imports of diamonds and diamonds) fell to a negative value of $ 477.91 million compared to a deficit of $ 146.82 million for the same month last year.
According to Rapaport, in the first half of 2013, India registered an increase in polished exports by 19% to $ 10.595 billion and an increase in polished imports by 18% to $ 3.827 billion.
Imports of rough diamonds in the first six months of 2013 increased 11% to $ 8.655 billion, while exports diamond jumped 24% to $ 1,032 billion.
The deficit of the Indian net diamond account for the first half of 2013 was reduced to $ 491.15 million compared with $ 1.064 billion for the same period last year.