Rapaport reported that in November, India’s polished diamond exports sank 15 percent compared to the previous year. All in all, their value declined to $1.32 billion.
As quoted in the market news:
By volume, polished exports fell 16 percent to 2.2 million carats. Polished imports nosedived 72 percent to $147.4 million, leaving net exports – polished exports minus imports – 14 percent higher at $1.17 billion.
Rough diamond imports plummeted 60 percent to $624.9 million and rough exports slumped 34 percent to $62.1 million, leaving net imports – rough imports minus exports – 61 percent lower at $562.8 million. India’s net diamond account, which is calculated as the difference between net polished exports and net rough imports, increased from negative $422 million in November 2014 to positive $612.1 million this year.
During the month, India imported $630,000 worth of rough synthetic stones, most of them diamonds. Polished synthetics imports, meanwhile, totaled $5.8 million and exports were $6 million.
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