India Sees Highest Polished Exports Since Feb. 2019
India’s polished-diamond exports continued to exceed pre-pandemic levels in July as the market extended its recovery.
The outgoing shipments more than doubled year on year to $2.26 billion, the highest since February 2019, according to data the country’s Gem & Jewellery Export Promotion Council (GJEPC) released this week.
India’s polished-diamond exports continued to exceed pre-pandemic levels in July as the market extended its recovery.
The outgoing shipments more than doubled year on year to $2.26 billion, the highest since February 2019, according to data the country’s Gem & Jewellery Export Promotion Council (GJEPC) released this week.
Rough imports also showed a significant increase, reflecting sales momentum at the large mining companies.
India Trade Data for July 2021
| July 2021 | Year-on-year change | |
| Polished exports | $2.26B | 146% |
| Polished imports | $106M | -47% |
| Net polished exports | $2.15B | 200% |
| Rough imports | $1.56B | 574% |
| Rough exports | $47M | 145% |
| Net rough imports | $1.51B | 613% |
| Net diamond account | $645M | 27% |
| Polished exports (volume) | 3 million carats | 105% |
| Average price of polished exports | $752/carat | 20% |
| January-July 2021 | Year-on-year change | |
| Polished exports | $14.24B | 112% |
| Polished imports | $1.23B | 6% |
| Net polished exports | $13.01B | 134% |
| Rough imports | $10.33B | 197% |
| Rough exports | $319M | 11% |
| Net rough imports | $10.01B | 213% |
| Net diamond account | $3B | 27% |
| Polished exports (volume) | 18.2 million carats | 98% |
| Average price of polished exports | $783/carat | 7% |
Source: Gem & Jewellery Export Promotion Council; Rapaport archives.
About the data:
India, the world’s 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 India’s diamond trade balance, and shows the added value the nation creates by manufacturing rough into polished.
Image: The Bharat Diamond Bourse in Mumbai. (Rapaport News)
