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US Polished Trade Continues to Decline
Dec 1, 2019 7:57 AM
By Rapaport News
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RAPAPORT... US polished-diamond
imports fell 24% to $1.48 billion in September, according to the latest data
from the US Commerce Department. The decline reflected lower volumes and a drop
in the average price. Polished imports fell 13% to $15.37 billion for the first
nine months of the year.
US Trade Data for September 2019
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Sep 2019 |
Year-on-year change |
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| Polished imports |
$1,484 |
-24% |
| Polished exports |
$1,438 |
-13% |
| Net polished imports |
$46 |
-84% |
| Rough imports |
$13 |
-73% |
| Rough exports |
$13 |
-56% |
| Net rough imports |
$1 |
-97% |
| Net diamond account |
$46 |
-85% |
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| Polished imports: volume |
851,910 carats |
-6% |
| Average price of polished imports |
$1,742/carat |
-19% |
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Jan-Sep 2019 |
Year-on-year change |
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| Polished imports |
$15,369 |
-13% |
| Polished exports |
$13,938 |
-7% |
| Net polished imports |
$1,431 |
-44% |
| Rough imports |
$262 |
-43% |
| Rough exports |
$245 |
-36% |
| Net rough imports |
$17 |
-78% |
| Net diamond account |
$1,448 |
-45% |
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| Polished imports: volume |
7.4 million carats |
-2% |
| Average price of polished imports |
$2,076/carat |
-11% |
All numbers in millions unless stated otherwise.
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 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: New York. (Piqsels)
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Tags:
net diamond account, net polished imports, Net rough imports, new york, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data, US
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