December U.S. Rough Diamond Imports Shoot Up In Value, Drops in Volume

The value of rough diamonds imported to the U.S. in 2006 fell 10.71 percent while volume increased 20.25 percent. This is in sharp contrast to rough imports in December when value soared 32.81 percent compared to December 2005, but dropped a dramatic 37.69 percent in volume.

December 2006 Rough Diamond Imports

The U.S. imported 52,914 carats of rough diamonds in December, valued at $55 million and averaging $1,039.69 per carat.

Imports from South Africa totaled 17,489 carats worth $26.8 million at an average value of $1,532.32 p/c. Botswana shipped 20,020 carats worth $12.3 million, $614.52 p/c.

Lesotho, at just 28 carats, was the leading source by average value – $26,747.57 p/c.

Although the value of imports rose compared to December 2005, imports had been slipping since September's $88.84 million worth of diamonds.

Annual Rough Diamond Imports

2006 was a roller coaster year for the rough diamond trade. The U.S. imported 1,199,716 carats worth $801 million at an average value of $667.69 p/c.

Although a comparison of December’s average to the overall average of rough imports in 2006 might indicate that U.S. imports are shifting to bigger goods, a look at August's numbers reveals that this is not the case. In August, the U.S. imported 148,122 carats of goods with a declared value of just $927,552.at an average value of $6.26 p/c. This caused the average value of imports in August to drop more than 68 percent compared to August 2005.

There were several such shipments from Russia in 2006 ($13.91 p/c in February, $6.63 p/c in July). During other months, the value of the Russian goods ranged between $700 and $2,200 p/c.

South Africa supplied 332,390 carats worth $383.76 million, an average value of $1,154.54 p/c. Botswana shipped 171,928 carats worth $162.44 million, an average of $944.82 p/c. The Democratic Republic of the Congo was the source of 45,791 carats of rough in 2006, at a value of $66.46 – with an average of $1,451.47 p/c.