U.S. February Polished Imports Rise 20% in Value and Volume
April 16, 06 by Edahn Golan
The U.S. imported 1,497,865 carats of polished diamonds in February. The diamonds had a total value of $1.315 billion, a 20 percent increase in value and weight over polished imports in February 2005. Rough diamond imports of 178,468 carats were valued at $45.4 million, a 52 percent drop in value, despite nearly doubling in weight.
According to the U.S. International Trade Commission figures, the American diamond industry looked abroad for polished diamonds, boosting imports of the goods, while apparently focusing on manufacturing smaller and cheaper goods.
Israel ($714 million / 333,855 carats), India ($267.5 million / 882,587 carats), and Belgium ($199 million/ 118,913 carats) were the major suppliers of polished diamonds to America, supplying $1.18 billion out of $1.315 billion worth of goods.
South Africa was the leading source of rough diamonds, shipping 12,163 carats worth $28.2 million for a high $2,320 per carat. Botswana followed with 10,446 carats at $ 10.76 million - $1,030 per carat.
