Japan Polished Diamond Imports: Continued Decline

Japanese consumers are continuing to cut back on their diamond jewelry consumption, causing imports of loose goods to decline further in March. Imports totaled $75.327 million, a 13 percent decline from last year. In terms of the yen, a stronger currency, imports fell 23.3 percent.

Imports by volume totaled 173,718 carats, a less steep 10.3 percent year-over-year decline. The average price per carat declined to $434 from $447 per carat a year ago.

Imports from India declined 21.4 percent to $26.47 million with goods averaging $216 per carat. Imports from Belgium, averaging $1,321 per carat, increased 29.7 percent to $18.877 million.

In the first quarter of the year, Japan imported $214.63 million worth of polished diamonds weighing 544,292 carats, a 9.5 percent decline in value and 10.7 percent decline in volume.