India's Polished Exports Drop

RAPAPORT... India's polished-diamond exports fell in September,according to data from the nation's Gem & Jewellery Export PromotionCouncil (GJEPC).Polished exports decreased 11% year on year to $2.37 billionand, by volume, fell 29% to 2.78 billion carats. The average price rose 26% to$851 per carat. Polished imports dropped 7% year on year to $163 million,while net polished exports - the excess of exports over imports - slipped 11%to $2.20 billion. Rough imports fell 14% to $1.25 billion, while rough exportsplummeted 50% to $85 million. Net rough imports decreased 10% to $1.17 billion.The country's net diamond account - the sum of rough andpolished exports minus total imports - fell 12% to $1.03 billion. Image: A polished diamond in tweezers. (Luibov Luganskaia/Shutterstock)