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US Polished Imports Continue to Grow
Nov 4, 2018 7:37 AM
By Rapaport News
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RAPAPORT... US polished-diamond imports rose 16%
in August, continuing an upward trend for the year. The August growth reflected
higher volumes (up 22% to 894,066 carats), with the average price slipping 5%
to $2,016 per carat. A higher average price for the first eight months drove a 6% increase in imports for that period.
US Diamond Trade Data for August 2018
| Millions unless stated otherwise |
Aug 2018 |
Year-on-year change |
| Polished imports |
$1,803 |
16% |
| Polished exports |
$1,749 |
27% |
| Net polished imports |
$53 |
-70% |
| Rough imports |
$25 |
-24% |
| Rough exports |
$32 |
-75% |
| Net rough imports |
-$6 |
Deficit decreased 93% |
| Net diamond account |
$47 |
-45% |
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| Polished imports: volume |
894,066 carats |
22% |
| Average price of polished imports |
$2,016/carat |
-5% |
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Jan-Aug 2018 |
Year-on-year change |
| Polished imports |
$15,686 |
6% |
| Polished exports |
$13,402 |
9% |
| Net polished imports |
$2,284 |
-10% |
| Rough imports |
$412 |
-26% |
| Rough exports |
$356 |
-32% |
| Net rough imports |
$56 |
93% |
| Net diamond account |
$2,339 |
-9% |
Source: US Census Bureau; 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 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: Israel Diamond Week in New York, October 2018.
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Tags:
Average Price, imports and exports, net diamond account, net polished imports, Net rough imports, polished exports, polished imports, polished-diamond imports, Rapaport News, rough exports, rough imports, trade data, US
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