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US Diamond Imports End 2021 on a High
Feb 17, 2022 6:52 AM
By Rapaport News
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RAPAPORT... US polished-diamond imports rose 21% to $1.48 billion in December, capping off a year of recovery for the trade. The 12-month figure jumped 64%, according to recent data from the US Department of Commerce.
US Trade Data for December 2021
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December 2021 |
Year-on-Year Change |
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| Polished imports |
$1.48B |
21% |
| Polished exports |
$1.16B |
15% |
| Net polished imports |
$318M |
49% |
| Rough imports |
$49M |
-8% |
| Rough exports |
$16M |
-71% |
| Net rough imports |
$33M |
2020: Deficit of $1M |
| Net diamond account |
$350M |
66% |
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| Polished imports: volume |
749,300 carats |
-19% |
| Average price of polished imports |
$1,977/carat |
48% |
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Full Year 2021 |
Year-on-Year Change |
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| Polished imports |
$19.38B |
64% |
| Polished exports |
$14.37B |
42% |
| Net polished imports |
$5.01B |
193% |
| Rough imports |
$486M |
87% |
| Rough exports |
$385M |
46% |
| Net rough imports |
$100M |
2020: Deficit of $3M |
| Net diamond account |
$5.11B |
199% |
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| Polished imports: volume |
11.3 million carats |
58% |
| Average price of polished imports |
$1,720/carat |
4% |
Source: US Commerce Department data; Rapaport archives.
About the data: The US, the world’s largest diamond retail market, is a net importer of polished. As such, net polished imports — representing polished imports minus polished exports — will usually be a positive number. Net rough imports — calculated as rough imports minus rough exports — will also generally be in surplus. The nation has no operational diamond mines but has a manufacturing sector, so it normally ships more rough in than out. The net diamond account is total rough and polished imports minus total exports. It is the US’s diamond trade balance, and shows the added value the nation creates by importing — and ultimately consuming — diamonds.
Image: Times Square, New York. (Shutterstock)
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Tags:
net diamond account, net polished imports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports
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