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U.S. Polished Exports Surge After JCK Show

Trading Shows the Largest Polished Deficit to Date

Aug 7, 2014 8:03 AM   By Jeff Miller
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RAPAPORT... U.S. polished diamond imports rose 3.6 percent year on year to $1.619 billion in June as the average price per carat surged 26 percent to $2,094. However, polished diamond exports jumped 15.1 percent to a record of $2.941 billion, leaving the largest monthly deficit on record at $1.321 billion, far surpassing the deficit of $993 million one year earlier. Polished data for May and June typically reflects JCK show activity, but since June 2011, post-JCK net polished imports have shown an increasingly higher monthly deficit.

Rough diamond imports in June increased 80 percent to $36 million, while rough exports declined 48.1 percent to $14 million, leaving net rough imports of $22 million compared with a deficit of $7 million one year ago. The net diamond account in June, reflecting the difference between net diamond imports and net exports,  recorded a deficit of $1.299 billion, which was again the largest dollar amount to date for a single month.
 
Polished diamond imports for the first six months of 2014 have increased 5.3 percent year on year to $12.212 billion; however, polished exports have risen 13.6 percent to $11.49 billion, leaving net polished imports 51.2 percent lower at $723 million. Rough diamond imports recorded a 72.6 percent increase at $366 million, while rough exports surged 81.8 percent to $249 million. Net rough imports have improved 56.8 percent to $116 million, resulting in a net diamond account of $839 million compared with $1.555 billion one year ago.

Tags: deficit, diamonds, exports, imports, JCK, Jeff Miller, trade
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