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U.S. Feb. Polished Diamond Exports Set a Record High

Net Diamond Accounts Fall

Apr 12, 2011 10:04 AM   By Jeff Miller
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RAPAPORT... U.S. polished diamond imports during the month of February rose 29 percent to  $1.625 billion. Polished diamond exports though hit a record high for the month of February at $1.507 billion, a 56 percent year on year increase. February's exports ranked as the third highest for any given month. Net imports plummeted 60 percent to $118 million.

Rough diamond imports in February skyrocketed 179 percent year on year to  $81 million and rough exports rose 81 percent to $29 million, leaving net rough imports of $52 million compared with only $13 million in 2010.

For the month of February, the U.S. recorded a net diamond account, representing imports of both polished and rough diamonds, of $170 million and this was 44 percent lower than one year ago.

During the first two months of 2011, the U.S. imported polished diamonds worth $3.214 billion, an increase of 27 percent year on year,  while exports soared 48 percent to $2.77 billion, leaving net polished imports of $444 million versus $649 million one year ago.

Rough imports jumped 80 percent to $137 million and rough exports doubled to $63 million, leaving net rough imports of $74 million compared with $44 million in 2010.

The net diamond account for the first two months of 2011 was $518 million, representing a decrease in imports of 25 percent.

 

Tags: deficit, diamonds, february, gdp, Jeff Miller, trade, u.s.
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