India exports $1.689 billion polished diamond in Jan 2013

Imports of polished diamonds to India fell 39 percent to $597.70 million during January. Net polished exports, representing the excess of exports over imports, rose by 30 percent to $1.091 billion.

NEW DELHI(BullionStreet): India shipped out polished diamond worth $1.689 billion in the first month of this year.

According to Gem & Jewellery Export Promotion Council (GJEPC), the figure was still 7 percent lower compared with 2012 and also dropped volume wise by 11 percent to 3.122 million carats.

The average price per carat jumped 4 percent to $540.94. Imports of polished diamonds to India fell 39 percent to $597.70 million during January.

Net polished exports, representing the excess of exports over imports, rose by 30 percent to $1.091 billion. Rough imports to India declined 11 percent to $986.41 million during the month.

By volume, rough imports fell 6 percent to 10.869 million carats. However, rough exports rose 13 percent to $173.38 million in January.

Net rough imports, representing rough imports less exports, fell 15 percent to $813.03 million.

India’s January net diamond account, representing total exports less total imports, recorded a surplus of $278.08 million, compared with a deficit of $115.45 million one year ago.

View the original article here