US Polished Market Declines in 2017

RAPAPORT… 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