U.S. Polished Diamond Imports Rising, Yet to Reach Pre-Crisis Levels

The U.S. imported $1.64 billion worth of polished diamonds in July, a 35.5 percent increase from 2009 but 18.7 percent below imports in July 2008, on the verge of the global recession, indicating that recovery is still underway.

In volume, the U.S. imported 1.3 million carats, a 6.1 percent year-over-year increase. Here too, the increase in imports has not reached pre-recession levels, lagging 2.6 percent. The average value of gross imports was a relatively low $1,257 per carat.

The U.S. exported 1.6 million carats worth $1.18 billion at an average value of $715.01 p/c, as the U.S. exported lower cost goods.

Net imports were therefore $463.5 million. In volume, U.S. exports exceeded imports by 342,694 carats.