India Posts Big Decline In Diamond Imports-Exports In July

Reflecting the serious slowdown in the global trade for diamonds, India’s polished exports were down 18.34% and rough imports down 42.9% in July 2015 when compared to the corresponding figures of a year earlier, according to information released by The Gem & Jewellery Export Promotion Council (GJEPC).

The overall performance of the center across all segments was better, with gross exports reaching US$ 2,898.91 million in July 2015, a decline of 0.94% as compared to US$ 2,926.49 million for the same period previous year. The impact of the slowdown was more clearly marked when it comes to imports.

Overall gross imports of gems & jewellery was 29.75% down at US$ 2,272.78 million in July 2015 as compared to US$ 3,235.50 million for the same period previous year. Exports of cut and polished diamonds in July 2015 were US$ 1,512.74 million, slipping 18.34% as compared to US$ 1852.48 million in July 2014.

In volume terms, the decline was 14.40%, with the centre exporting 2.80 mn carats in July this year as against 3.26 mn carats a year earlier.

Reflecting the dramatic decline in the global diamond trade during July, imports of rough diamonds at US$ 1,092.76 million in July 2015 fell by 42.9% as compared to US$ 1,912.46 million a year earlier. In volume terms, 9.36 mn carats of rough were imported during July 2015, a decline of 40.0% compared with the imports of 15.59 mn carats during July 14.

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