India’s polished diamond exports rose 20 percent year on year to $1.415 billion in November ‎2012, after several months of weak activity, the Gem & Jewellery Export Promotion Council (GJEPC) data showed. By volume, however, polished exports declined 10 percent to 2.640 million carats during November as the average price ‎of the exports surged 34 percent to $535.80 per carat.

Imports of polished diamonds to India fell 52 percent to $389.46 million during the November. Net polished exports, representing the excess of exports over imports, rose by 172 ‎percent to $1.025 billion.

Rough imports to India declined 22 percent to $892.03 million during the month, while rough ‎exports fell 25 percent to $110.40 million. Net rough imports, representing rough imports ‎less exports, decreased 22 percent to $781.63 million.

India’s November net diamond account, representing total exports less total imports, recorded a surplus of $243.41 million, compared with a deficit of $625.92 million one year ago.

During the past 11 months, India’s polished exports have declined 37 percent year on year to $16.036 ‎billion, while polished imports have slumped 73 percent to $5.011 billion. Rough imports have risen only ‎‎1 percent to $13.224 billion and rough exports have fallen by 8 percent to $1.446 billion.

India’s net diamond account for January through November time frame has narrowed to a deficit of ‎‎$753.40 million, from quite a deficit of $4.907 billion one year earlier.