India's Diamond Trade Grows in 2017

RAPAPORT... India's polished-diamond exports increased 2.1% to $23.09billion in 2017 as the nation shipped out a higher volume of goods. By weight, exports jumped 14% to 37.3 million carats, whilethe average price slipped 11% to $620 per carat, Rapaport calculations show. Netpolished exports - representing exports minus imports - jumped 3.8% to $20.71billion, according to the figures, which are based on monthly data published by the nation's Gem& Jewellery Export Promotion Council (GJEPC). Rough imports grew 11% to $18.46 billion, while exportsincreased 7% to $1.52 billion. Net rough imports - imports minus exports - rose11% to $16.94 billion. India's 2017 net diamond account - calculated as total roughand polished exports minus total imports, measuring the addedvalue of the nation's diamond industry - declined 20% to $3.76billion. In December, India's polished exports increased 8% to $1.59billion, while rough imports leapt 56% to $2.18 billion.