India posted an 11.2-percent increase on the year in polished diamond exports to $2.66 billion in September, according to provisional data provided by the Gem & Jewellery Export Promotion Council (GJEPC).
In volume terms, polished exports increased 9.2 percent to 3.63 million carats. Polished imports soared 80.8 percent to $1.10 billion, leaving net exports 45.4 percent higher at $1.567 billion, according to Rapaport News.
As for rough diamond imports, they increased by 15.6 percent to $1.48 billion while rough exports jumped 22.2 percent to $151 million, leaving net imports 14.9 percent higher at $1.33 billion.
India's net diamond account, the difference between net polished exports and net rough imports, rose to $236 million compared with a deficit of $80.3 million in September 2013.
During September, India imported $3.15 million worth of rough synthetic diamonds. Polished synthetic imports, meanwhile, totaled $4.78 million and exports were $4.82 million.
In terms of diamond trading for the first nine months of the calendar year, Rapaport News calculates that India's polished diamond exports increased by 2.7 percent on the year to $16.56 billion, while polished imports increased 1.8 percent to $5.61 billion. Net polished exports improved by 3.2 percent to $10.95 billion.
Rough imports surged by 10.2 percent to $13.55 billion, while rough exports fell 17 percent to $1.19 billion, leaving net imports 13.8 percent higher at $12.36 billion.
India's net diamond account for the January through September period recorded a deficit of $1.41 billion compared with a deficit of $249 million one year earlier.
