RAPAPORT During the month of February, India's polished exports rose 59 percent to $1.37 billion and polished imports rose 17 percent to $787.5 million, according to provisional data from the Gem & Jewellery Export Promotion Council. Net polished diamond exports for February rose 62 percent to $582.5 million compared with February 2009.
Rough imports during February rose 362 percent to $983.63 million and rough exports rose 79 percent to $80.69 million. Net rough imports came in at $902.94 million, whereas one year ago the figure was $164.8 million.
India's net diamond account, which removes net rough imports from net polished exports, stood at a deficit of $320.4 million. One year ago, India's net diamond account reflected more polished exports than rough imports and was a positive $195.6 million.
For the first two months of calendar year 2010, India's polished exports have risen 89 percent to $3.08 billion and polished imports have risen 84 percent to $1.83 billion. Net polished diamond exports for January and February combined rose 96 percent to $1.25 billion.
Rough imports for the first two months have risen to $1.86 billion compared with only $427.3 million in 2009. Rough exports have risen 33 percent to $139.8 million, leading to net rough imports of $1.7 billion compared with $322 million one year ago.
India's net diamond account for the first two months of 2010 reflected strong increases in rough imports, therefore showed a deficit of about $450 million.
Source : diamonds.net