India's Polished Diamond Exports grew16% in February

NEW DELHI (Scrap Monster): According to latest statistics released by Indian Gem & Jewellery Export Promotion Council (GJEPC), the country’s polished diamond exports surged higher by 16% in February to $2.16 billion. By volume, exports rose 14% to 3.318 million carats. The exports during the first two months of the year totaled $3.225 billion, 9% lower when compared with the exports during the corresponding period last year.

The rough diamond exports by the country amounted to $112.5 million in February, down 34% year-on-year. The rough exports jumped 18% to touch $1.377 billion during the first two months of the calendar year. India exported $4.3 million of synthetic stones including synthetic diamonds and gemstones in February. The synthetic stone exports during the two-month period from January to February this year totaled $12.94 million.

On the other hand, the imports of polished diamonds increased 20% during the month. India’s total imports of polished diamond goods increased 20% to $564.5 million during February 2014. The rough diamond imports by the country amounted to $1.49 billion in February, up 12% year-on-year. Also, the country imported $4.3 million of rough synthetic stones in February. The rough synthetic stone imports fell 23% over the previous year.

The country’s net diamond account for the first two months in 2014 rose 11% to $2.036 billion.