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US Polished Imports Increase

Oct 2, 2018 9:57 AM   By Rapaport News
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US polished-diamond imports continued to rise in July, reflecting a higher average price, according to recent government data. Inbound shipments increased 5% to $2.03 billion, the highest figure for July since 2015, even as volumes slipped. Polished imports were up 5% in the first half of 2018, and were 5% higher for the January-to-July period.

US Diamond Trade Data for July 2018

Millions unless stated otherwise July 2018 Year-on-year change
Polished imports $2,031 5%
Polished exports $1,406 22%
Net polished imports $626 -20%
Rough imports $30 -40%
Rough exports $26 -44%
Net rough imports $4 3%
Net diamond account $629 -19%
     
Polished imports: volume 777,092 carats -2%
Average price of polished imports $2,614/carat 7%
     
  Jan-July 2018 Year-on-year change
Polished imports $13,883 5%
Polished exports $11,653 7%
Net polished imports $2,230 -6%
Rough imports $387 -26%
Rough exports $325 -19%
Net rough imports $62 -48%
Net diamond account $2,292 -8%


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: 47th Street, New York. (Tupungato/Shutterstock)
Tags: Average Price, imports, net diamond account, net polished imports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports, US, US Census Bureau
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