Industry News by Nemesis

US Polished Market Declines in 2017

February 27, 2018

 

US polished-diamond trading slowed last year, according to government data. 

Polished imports dropped 6% to $21.62 billion and, by volume, slid 9% to 9.8 million carats. The average price increased 4% to $2,205 per carat. 

Polished exports fell 4% to $18.02 billion, while net polished imports — the excess of imports over exports — slipped 14% to $3.61 billion. 

Rough imports for the year were up 23% to $1.06 billion, while rough exports grew 54% to $938 million. Net rough imports plummeted 51% to $123 million. 

The US net diamond account — the sum of rough and polished imports minus total exports — declined 16% to $3.73 billion. 

Polished-diamond imports for December fell 4% year on year to $1.48 billion, with polished exports down 2% at $1.33 billion. Net polished imports for December slumped 19% to $147 million.

Image: Diamond Dealers Club of New York

 

Source: Rapaport

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