India’s polished diamond exports drop by 37 per cent in December
In December 2012, India recorded a 37 per cent drop (on y-o-y basis) in its polished diamond exports, which valued $950 million. The volume of the said exports declined 44 per cent (on y-o-y basis) to 2.025 million carats. The average price per carat rose 14 per cent to $469.12 in December last year. Polished diamond imports also took a plunge, that of 49 per cent (on y-o-y basis) to $581.24 million. The country’s net polished exports (valued as excess of exports over imports) increased 2 per cent to $368.72 million. The country’s rough diamond trade saw a 35 per cent jump in imports to $1.762 billion, but exports dipped 39 per cent to $79.31 million. The net rough imports (valued as rough imports less exports) rose 43 per cent to $1.683 billion. The country’s net diamond account in the month stood at a deficit of $1.314 billion (the same was in deficit of $817.34 million in December 2011).