Industry News by Nemesis

US Polished Imports Slip in March

May 22, 2017

Polished diamond imports to the US fell 3% to $1.99 billion in March, according to government data.

By volume, polished imports slid 10% to 970,953 carats, while the average price of imports rose 8% to $2,045 per carat. Israel’s exports to the US jumped 13% to $606.4 million, with India’s shipments to the world’s largest diamond-consumer market slipping 3% to $673.8 million. Belgium’s contribution to US polished intake dropped 1% to $281.5 million. 

US polished exports, meanwhile, grew 7% to $1.58 billion, leaving net polished imports 28% lower at $402 million. 

Rough exports increased 81% to $47 million, while rough imports fell 22% to $35 million, meaning net rough imports stood at negative $12 million versus positive $19 million a year earlier. The US net diamond account — its total rough and polished imports minus total exports — contracted 33% to $389 million. 

In the first three months of the year, polished imports fell 11% to $2.45 billion, with polished exports declining 3% to $4.58 billion.

 

Source: Rapaport

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