The Gem & Jewellery Export Promotion Council (GJEPC) of India has released its monthly data on the country's diamond trade for February 2024.
Overall gross exports of polished diamonds in February fell 28% to $1.707 billion as compared to $2.369 billion during the same period of the previous year. For the period of April 2023 - February 2024 (since the beginning of the financial year) polished exports declined by 27.6% to $14.802 billion, from $20.441 billion during the same period of the previous year.
Rough diamond imports to India decreased by 6% to $1.589 billion in February 2024 compared to $1.688 billion for the same month a year earlier. From April to February, imports of uncut diamonds fell 18% to $12.859 billion, from $15.715 billion during the same period of the previous year.
The overall gross imports of polished diamonds to India in February 2024 stood at $130.4 million, a growth of 70.6% compared to $76.4 million in February of the previous year. In April-February, they grew by 47% and amounted to $1.79 billion as compared to $1.218 billion for the same period of the previous year.
According to provisional data, gross exports of polished lab grown diamonds (LGD) for February 2024 grew by 3% and stood at $139.1 million, while in February of last year the figure amounted to $135.2 million. During the period of April-February, polished LGD exports were down 18.5% to $1.278 billion as compared to $1.569 billion for the same period a year earlier.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
