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US Polished Imports Decline
Sep 24, 2019 10:26 AM
By Rapaport News
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RAPAPORT...
US
polished-diamond imports dropped 21% to $1.6 billion in July, according to the
latest data from the Commerce Department. This year’s downward
trend has continued, with polished imports falling 10% for the first seven months.
The average price of shipments has also decreased during 2019.
| US Trade Data for July 2019 |
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July 2019 |
Year-on-year change |
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| Polished imports |
$1,598 |
-21% |
| Polished exports |
$1,154 |
-18% |
| Net polished imports |
$444 |
-29% |
| Rough imports |
$32 |
5% |
| Rough exports |
$16 |
-40% |
| Net rough imports |
$16 |
311% |
| Net diamond account |
$461 |
-27% |
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| Polished imports: volume |
793,670 carats |
2% |
| Average price of polished imports |
$2,014/carat |
-23% |
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Jan-July 2019 |
Year-on-year change |
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| Polished imports |
$12,541 |
-10% |
| Polished exports |
$11,309 |
-3% |
| Net polished imports |
$1,232 |
-45% |
| Rough imports |
$239 |
-38% |
| Rough exports |
$209 |
-36% |
| Net rough imports |
$30 |
-51% |
| Net diamond account |
$1,262 |
-45% |
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| Polished imports: volume |
5.8 million carats |
1% |
| Average price of polished imports |
$2,162/carat |
-11% |
All numbers in millions unless stated otherwise.
Source: US Commerce Department data; 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 intersection of West 47th Street and 6th Avenue in New York’s diamond district. (Shutterstock)
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Tags:
data, net diamond account, net polished imports, Net rough imports, new york, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data, US
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