India’s polished diamond exports fell 28 percent year on year to $1.339 billion in October ‎‎2012, according to the Gem & Jewellery Export Promotion Council (GJEPC). By ‎volume, polished exports declined 27 percent to 2.834 million carats as the average price ‎of the exports dropped 2 percent to $472.57 per carat.‎

Imports of polished diamonds to India fell 47 percent to $480.31 million during the month. ‎Net polished exports, representing the excess of exports over imports, declined by 11 ‎percent to $858.95 million.‎

Rough imports to India rose 109 percent to $1.475 billion during the month, while rough ‎exports fell 30 percent to $99.65 million. Net rough imports, representing rough imports ‎less exports, increased 144 percent to $1.375 billion. ‎

India’s October net diamond account, representing total exports ‎less total imports, fell to a deficit of $516.91 million, from a surplus of $402.21 million the ‎previous year. ‎

During the first 10 months of the year, India’s polished exports fell 40 percent to $14.621 ‎billion, while its polished imports slumped 74 percent to $4.621 billion. Rough imports rose ‎‎3 percent to $12.331 billion and rough exports declined by 6 percent to $1.335 billion.‎

India’s net diamond account for January through October improved to a deficit of ‎‎$996.72 million from a deficit of $4.280 billion a year earlier. ‎