RAPAPORT... The US saw a 4% decline in polished-diamond imports in
November, according to data from the US Census Bureau. The average price fell
9%, outweighing a 5% increase in volume. Trade figures were still positive for
the January-to-November period, with a 7% jump in total import value,
reflecting a similar rise in the price per carat.
US Diamond Trade Data for November 2018
| Millions unless stated otherwise |
Nov 18 |
Year-on-year change |
| Polished imports |
$1,700 |
-4% |
| Polished exports |
$1,505 |
1% |
| Net polished imports |
$195 |
-31% |
| Rough imports |
$94 |
-34% |
| Rough exports |
$29 |
-87% |
| Net rough imports |
$65 |
2017: Deficit of $74M |
| Net diamond account |
$260 |
24% |
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|
| Polished imports: volume |
722,040 carats |
5% |
| Average price of polished imports |
$2,354/carat |
-9% |
| |
|
|
| |
Jan-Nov 2018 |
Year-on-year change |
| Polished imports |
$21,652 |
7% |
| Polished exports |
$18,197 |
9% |
| Net polished imports |
$3,455 |
0% |
| Rough imports |
$584 |
-34% |
| Rough exports |
$452 |
-45% |
| Net rough imports |
$132 |
135% |
| Net diamond account |
$3,588 |
2% |
| |
|
|
| Polished imports: volume |
9.3 million carats |
0% |
| Average price of polished imports |
$2,337/carat |
7% |
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: The corner of Sixth Avenue and 47th Street in New York’s diamond district. (Tdorante10)
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