U.S. Polished Diamond Imports Plummet 72% in H1
August 13, 09
The U.S. imported $976.6 million worth of polished diamonds in June, a 38.7 percent year-over-year decline. In the first half of 2009 $5.37 billion worth of polished diamonds were imported, a 71.6 percent decline compared to the first six months of 2008.
 The U.S., the world’s largest polished diamond consumer market, exported more then it imported. Net exports in H1 totaled $1.24 billion |
Exports in June totaled $965.75 million on shipments of 2,621,102 carats at an average value of $368.45 p/c.
Net imports stood at a low $10.86 million. However, while imports exceeded exports in value, in volume exports exceeded imports, resulting in a decrease of 1.77 million carats.
In the first half of 2009, the U.S. exported more goods then it imported, underscoring the weak demand for diamond jewelry in the U.S consumer market. Half year exports of 16.34 million carats at $6.63 billion, averaging $405.51 p/c, resulted in a net trade of -$1.24 billion.
Israel was the leading supplier of polished goods in June, supplying 175,453 carats worth $478.98 million, at an average value of $2,729.95 p/c. Exports to Israel, mainly returns, stood at 1,050,200 million carats worth $390.34 million.
India, the second largest supplier by value, was source of 518,561 carats valued at $236.44 million, averaging $455.95 p/c. Shipments to India of 283,683 were worth $132.29 million.