As Imports Slide, U.S. Exports Exceed Imports for 4th Month

(IDEX Online News) – Imports of polished diamonds into the U.S. since the start of 2012 are continuously below last year's levels, with the gap widening in April. Imports in April fell 16.5 percent year-over-year, more than double the decline in previous months.

The U.S. imported $1.43 billion worth of polished diamonds in April with a total volume of 888,146 carats. By volume, the decline is 13.4 percent, based on figures released by the U.S. International Trade Commission.

Compared to March, the decline in imports is 20.7 percent. However, this is a seasonal decline typically seen in April. This year the decline is steeper than in previous years.

In the first four months of 2012, the U.S. imported $6.25 billion worth of polished diamonds, a 9.1 percent decline compared to the first third of 2011.

Source: U.S. Department of Commerce and the U.S. International Trade Commission

Exports of polished diamonds are also declining, falling 12.8 percent in April compared to April 2011.

The volume of exports has increased, up 2.6 percent 1.1 million carats.

In the first four months of 2012, the value of polished diamond imports have been below the value of exports, with U.S. traders shipping out of the country more goods than imported.

This is not a healthy sign for the American diamond jewelry market.

The average value of imports in April was $1,611.13 per carat. The average value of exports is some $570 dollar less, indicating that higher-end items are in demand in the U.S.