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US Polished Trade Surged in October
Dec 26, 2018 9:15 AM
By Rapaport News
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RAPAPORT... The US saw a sharp increase in imports and exports of polished
diamonds in October, according to data from the US Census Bureau. Inbound
shipments hit a record level for any month other than May,
which is boosted by preparations for the annual JCK Las Vegas fair, Rapaport archives show. Rough trading
slowed.
US Diamond Trade Data for October 2018
| Millions unless stated otherwise |
Oct 18 |
Year-on-year change |
| Polished imports |
$2,321 |
28% |
| Polished exports |
$1,627 |
31% |
| Net polished imports |
$694 |
22% |
| Rough imports |
$29 |
-77% |
| Rough exports |
$38 |
-18% |
| Net rough imports |
Deficit of $9M |
2017: Surplus of $78M |
| Net diamond account |
$685 |
6% |
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| Polished imports: volume |
1 million carats |
16% |
| Average price of polished imports |
$2,278/carat |
11% |
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Jan-Oct 2018 |
Year-on-year change |
| Polished imports |
$19,953 |
9% |
| Polished exports |
$16,692 |
10% |
| Net polished imports |
$3,261 |
3% |
| Rough imports |
$490 |
-34% |
| Rough exports |
$422 |
-30% |
| Net rough imports |
$67 |
-48% |
| Net diamond account |
$3,328 |
1% |
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| Polished imports: volume |
8.5 million carats |
0% |
| Average price of polished imports |
$2,336/carat |
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: Streets in Manhattan, New York. (Pixabay)
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Tags:
net diamond account, net polished imports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data, US, US trade data
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