Value of U.S. Polished Diamond Imports Remain High in June

For the sixth consecutive month, U.S. imports of polished diamonds continued to hover high in value compared to 2007, with the volume remaining below last years level, keeping the average value of imports high at $1,797.70 per carat. However, net trade, imports less exports, was negative, probably due to the JCK show.

Polished diamond imports totaled $1.593 billion in June, a 20.6 percent year-over-year increase, while the volume sank 24 percent to 886,128 carats, resulting in a 61.16 percent leap in the average value from the $1,115.47 p/c average in June 2007.

In first half of the year, the U.S. increased polished imports by 40.38 percent compared to the first half of 2007 to $10.328 billion. By volume, imports declined 7.42 percent to 6,623,711 carats. The average value shot up 51.62 percent to $1,559.17 p/c.

Exports in June were high, as international traders have shipped their goods back home after the JCK Las Vegas show concluded. Exports of 3,288,648 carats with a stated value of $1.88 billion resulted in a 31 percent decline, putting net trade in the red. This clearly distorts ‘natural’ trade figures for the month and their true value.