India's Polished Diamond Exports Dive 28% in October

India's diamond trade has been suffering from the uncertain economic outlook in many of the consumer markets, most notably the U.S. and China.

The volume of exports, 2.8 million carats, declined 5.3 percent compared to September, based on figures published by the GJEPC.

Year-over-year, India's gross exports declined 28.2 percent by value and 26.6 percent by volume.

Compared to October 2011, the average value of exports declined by 2.2 percent to $472.57 per carat (p/c). However, compared to the average value of exports in the first nine months of 2012, October's average is a 7.0 percent decline.

Polished diamond imports of $480 million increased by 29.4 percent month-over-month, but sank 46.6 percent year-over-year.

Source: GJEPC