India’s polished diamond exports climbed 19% by value in October amid a higher volume and average price compared with a year ago, according to data from the Gem & Jewellery Export Promotion Council. Exports are up 9% for the year to date as an 18% jump in the average price has offset lower volume, reflecting a shift toward higher-value goods. India’s net diamond account surged 50% over the 10 months as growth in rough and polished exports outpaced that of imports.

India Diamond Trade Data for October 2018

India Polished

About the data: India, the world’s largest diamond-cutting center, is a net importer of rough and a net exporter of polished. As such, net polished exports — representing polished exports minus polished imports — will usually be a positive number. Net rough imports — calculated as rough imports minus rough exports — will also generally be in surplus. The net diamond account is total rough and polished exports minus total imports. It is India’s diamond trade balance, and shows the added value the nation creates by manufacturing rough into polished.