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U.S. Polished Diamond Imports -3% in May

Jul 7, 2015 10:00 AM   By Jeff Miller
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RAPAPORT... U.S. polished diamond imports fell 2.9 percent year on year to  $3.016 billion in May, which is typically the highest value month for diamond imports due to the trade shows in Las Vegas. Diamond imports by weight value rose 9.2 percent to $2,241 per carat. Polished diamond exports, meanwhile, fell 29.9 percent to $1.38 billion, driving net imports up 44.1 percent to $1.636 billion.

Rough diamond imports plummeted 67.2 percent in May to $20 million, while rough exports dropped 61.7 percent to $18 million, leaving net rough imports down 85.7 percent at $2 million. The net diamond account, reflecting the difference between net imports and exports, rose 42.6 percent to $1.638 billion.

During the first five months of the year, polished diamond imports fell 0.5 percent year on year to $10.535 billion and polished exports dropped 12.4 percent to  $7.489 billion, resulting in net imports increasing 49 percent to $3.046 billion.

Rough imports plunged 70.9 percent to $96 million, rough exports contracted 73.6 percent to $62 million and net imports fell 63.8 percent to  $34 million. The net diamond account for the January through May period totaled $3.08 billion compared with $2.138 billion one year earlier.

Tags: diamonds, exports, imports, Jeff Miller, trade show, trading
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