U.S. Polished Diamond Imports Carat Value Dips MoM

Diamond imports to the United States continued to be higher in value and lower in volume in July from a year earlier, though the average value per carat dropped to a four-month low of $1,505.89 per carat.

Gross polished diamond imports rose 21.3 percent year-over-year to $2.021 billion in July, while the volume dropped 14.1 percent to 1,341,836 carats from a year earlier. The average per carat value rose 55.5 percent from $968.40 in July 2007.

Average value per carat rose steadily since September 2007 and peaked in June at $1,797.70.

For the first seven months of the year, the U.S. increased polished imports by 18 percent to $12.350 billion from the year earlier period, while the volume of imports declined 21 percent to 7,966,132 carats.

The U.S. exported 2,585,258 carats worth $1.28 billion, an average value of $494.64 p/c.

Net polished diamond trade in July stood at just $741.89 million, with a negative volume trade of 1,243,422 as U.S. traders continue to export cheaper goods they have held.