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India Exports Hit Two-Year High

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Rapaport News • 24-05-2021

Indias polished-diamond exports reached their highest level in more than two years as manufacturers rushed to meet retail demand.

Indias polished-diamond exports reached their highest level in more than two years as manufacturers rushed to meet retail demand. April shipments came to $2.25 billion, compared with $35 million during the onset of the coronavirus pandemic a year earlier. The total was also 37% higher than the same period of 2019, according to recent data from the countrys Gem & Jewellery Export Promotion Council (GJEPC).

India Trade Data for April 2021

 

 April 2021Year-on-year change
   
Polished exports$2.25B6423%
Polished imports$141M3638%
Net polished exports$2.11B6764%
Rough imports$1.7B2020: $0
Rough exports$50M2020: $0
Net rough imports$1.65B2020: $0
Net diamond account$464M1408%
Polished exports: volume2.6 million carats52160%
Average price of polished exports$861/carat-88%
   
 January-April 2021Year-on-year change
   
Polished exports$7.96B97%
Polished imports$896M37%
Net polished exports$7.07B109%
Rough imports$5.82B103%
Rough exports$158M-31%
Net rough imports$5.66B114%
Net diamond account$1.41B91%
Polished exports: volume9.8 million carats76%
Average price of polished exports$811/carat12%

Source: Gem & Jewellery Export Promotion Council; Rapaport archives.

About the data: India, the worlds largest diamond-cutting center, is a net importer of rough and a net exporter of polished. As such, net polished exports representing polished exports minus polished imports will usually be a positive number. Net rough imports calculated as rough imports minus rough exports will also generally be in surplus. The net diamond account is total rough and polished exports minus total imports. It is Indias diamond trade balance, and shows the added value the nation creates by manufacturing rough into polished.

Image: Bharat Diamond Bourse. (Rapaport News)

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