Indian diamond exports jumped 43% on a year-on-year basis in May 2013 to $ 1.78 billion, Rapaport reported citing figures from the Gem & Jewelery Export Promotion Council (GJEPC). The growth in exports for the month was 27% - to 3.262 million carats of diamonds.
Imports of diamonds to India increased more than threefold to $ 536.98 million. Indian net polished exports in May grew by 19% to $ 1.243 billion.
Indian imports of rough diamonds rose 45% year-on-year to $ 1.64 billion, while diamond exports increased by 15% to $ 134.56 million. Net rough imports to India in May rose 48% to $ 1.506 billion.
The Indian net diamond account (the difference in exports and imports of diamonds and diamonds) in May fell to a negative value of $ 263.1 million compared to a surplus of $ 29.1 million for the same month last year.
In the first five months of 2013, Indian polished exports showed a 19% increase to $ 9.481 billion, while polished imports rose 5% to $ 3.132 billion, according to Rapaport.
Imports of rough diamonds rose 10% to $ 7.282 billion from January to May, while rough diamond exports jumped 27% to $ 920.6 million. The
Indian net diamond account for the five months of 2013 remained scarce at $ 13.24 million with a deficit of $ 918 million over the same period last year.