No UK Sight Goods to the U.S., Net Imports Drop to $80K in February

The U.S. imported just 21,303 carats of rough diamonds with a declared value of $5.9 million in February. A 92 percent drop from February 2008. None of the goods were imported from the UK, indicating that the Diamond Trading Company (DTC) did not ship any goods to U.S. Sightholders.

The explanation can be that the six U.S. Sightholders did not buy any goods from the DTC or had them shipped from London to other countries. The last time gem quality rough diamonds were imported to the U.S. was in September 2008.

More than 70 percent of the goods imported in February - $4.15 million - were shipped from South Africa. A number of American Sightholders have a Sight in South Africa, and while the intention of the South African Sight is that the goods will be polished locally, it is possible that some of these goods are exported to the U.S.

The U.S. exported practically all of its imports, $5.83 million worth of goods. However, in terms of volume, exports were nearly triple the volume of goods imported. As a result, while the value of imports in February averaged $277.24 per carat, the average value of exports stood at $93.77 p/c.