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US Polished Imports See Gentler Rise

Nov 30, 2021 3:52 AM   By Rapaport News
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US polished-diamond imports climbed 7% year on year to $1.43 billion in September, a slimmer increase than in the last few months, according to recent data from the US Department of Commerce. The average price of shipments increased, but the volume fell.

US Trade Data for September 2021

  September 2021 Year-on-year change
     
Polished imports $1.43B 7%
Polished exports $1.1B 18%
Net polished imports $330M -18%
Rough imports $89M 568%
Rough exports $10M -45%
Net rough imports $80M 2020: Deficit of $5M
Net diamond account $410M 3%
     
Polished imports: volume 869,300 carats -12%
Average price of polished imports $1,647/carat 22%
     
  January-September 2021 Year-on-year change
     
Polished imports $14.21B 80%
Polished exports $10.38B 49%
Net polished imports $3.82B 321%
Rough imports $386M 238%
Rough exports $274M 102%
Net rough imports $112M 2020: Deficit of $21M
Net diamond account $3.94B 344%
     
Polished imports: volume 8.5 million carats 89%
Average price of polished imports $1,678/carat -4%

Source: US Department of Commerce 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: The diamond district in New York. (Shutterstock)
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Tags: data, Department of Commerce, exports, imports, net diamond account, net polished imports, Net rough imports, polished, Polished Diamonds, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data, US
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