India: Diamond Export Plunge in January

Provisional data released by India’s Gem & Jewellery Export Promotion Council shows that the country’s exports of cut and polished diamonds dropped 16.07% year-on-year to $1.75 billion in January 2019.

Rough imports dropped to $857 million, compared to $1. 436 billion imported during the previous January. In volume terms, rough imports fell to 8.36 million carats, compared to 13.29 million carats in January 2018. Imports of cut and polished diamonds were down to $86.32 million, compared to $136.43 million the same month a year earlier.

Gold jewellery (plain and studded) exports rose 32.35% to $866.99 million, while exports of silver jewellery dropped by some $42 million to $104.38 million in January 2019. Colored gemstone exports declined marginally to $45.28 million.

From April 2018 to January 2019, polished diamond exports were up 1.76% to $19.61 billion. Imports of polished diamonds fell 40.37% to $1.12 billion. Exports of gold jewellery (both plain and studded) rose to $9.85 billion, compared to $7.75 billion in the corresponding period last year.

Courtesy: Israeli diamond