India’s February Polished Diamond Exports +2%

(IDEX Online News) – India’s polished diamond exports recorded a marginal 1.93-percent increase in February, according to preliminary data released by the Gem and Jewelry Export Promotion Council (GJEPC). Overall exports from the gem and jewelry sector saw a 12.64-percent year-over-year increase, rising from $3.47 billion to $3.9 billion.

Cut and polished diamond exports by value, increased to $2.34 billion compared to $2.29 billion a year previously. There was also an increase in the number of carats exported, up from 303, 100 in February 2015 to 328, 000 in 2016.

Imports of rough diamonds rose significantly, showing a 37.07-percent increase by value, to $1.55 billion compared to $1.13 billion a year previously. A year-over-year analysis, however, showed that rough imports declined 17.22 percent by value from April 2015-February 2016 ($12.65 billion) compared to April 2014-February 2015 ($15.29 billion).

Rough exports by value showed a healthy 49-percent increase, improving to $131 million in February compared to $87.8million in February 2016.

Exports of colored gemstones declined slightly to $65.2 million compared $67.44 million in February 2015, which represents a 3.3-percent decline.

India exported $6.43 million worth of synthetic stones during February, down slightly from $6.88 million in February 2015. It imported $9.72 million over in February 2016 compared to $6.68 million over the same period in the prior year, which represents a 31.3-percent increase.

Gold jewelry exports by value increased a substantial 74.43 percent to $845 million compared to $484 million in February 2015.