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Economics

Economic Bulletin

U.S. Polished Imports Rise
   The U.S. Department of Commerce reported year-on-year statistics for March:
  • U.S. polished diamond imports rose 8 percent to $1.96 billion and the average price of polished imports surged 13 percent to $1,798 per carat. 
  • Polished diamond exports registered a decline of 3 percent to $1.49 billion.
  • Rough diamond imports plummeted 27 percent to $38 million.
  • Rough diamond exports declined 42 percent to $22 million.

Belgium’s Polished Exports Jump
   The Antwerp World Diamond Centre (AWDC) reported year-on-year diamond statistics for April:
  • Polished diamond exports grew 23 percent to $1.16 billion. By volume, polished exports fell 9 percent to 533,128.25 carats as the average price of the goods grew 36 percent to $2,170.60 per carat.
  • Polished diamond imports rose 8 percent to $1.01 billion. 
  • Rough diamond imports increased 38 percent to $1.42 billion.
  • Rough diamond exports grew 28 percent to $1.53 billion.
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India’s Polished Exports Climb
   India’s Gems and Jewellery Export Promotion Council (GJEPC) released year-on-year statistics for March:
  • Polished diamond exports rose 10 percent to $2.34 billion. By volume, exports grew 7 percent to 4.552 million carats. 
  • Polished imports increased 24 percent to $1.12 billion. 
  • Rough diamond imports fell 2 percent to $1.4 million. 
  • Rough exports declined 13 percent to $199.9 million. 
  • India’s first-quarter net diamond account improved to a surplus of $497 million from a deficit of $457 million one year earlier. 

Japan’s Polished Imports Up
   Japan’s polished diamond imports rose 3 percent year on year to $75.4 million in March, according to Momozawa, citing the Finance Ministry.
  • By volume, imports grew 20 percent to 177,067 carats.
  • The average price dropped 15 percent to $426 per carat.

Hong Kong’s Polished Imports Rise
   The Diamond Federation of Hong Kong China Limited released year-on-year data for the first quarter of 2013:
  • Polished diamond imports rose 4 percent to $4.49 billion. 
  • Polished diamond exports declined 10 percent to $2.96 billion. 
  • Rough diamond imports rose 45 percent to $464.5 million.
  • Rough diamond exports increased 61 percent to $695.9 million.

Rockwell’s Sales Jump
   Rockwell Diamonds Inc. reported a 19 percent year-on-year increase in sales to $7.2 million for the fourth fiscal quarter that ended on February 28, 2013. Total revenue increased 11 percent to $9.1 million.
  • The company sold 5,308 carats during the period at an average price of $1,355 per carat, up from $1,041 per carat one year earlier.
  • All diamonds recovered during the period that were over 30 carats and of commercial quality had been channeled into the company’s beneficiation joint venture with Steinmetz Diamond Group. 
  • Rockwell reported that its production fell 5 percent year on year to 3,854 carats.

Lucara’s Revenue Up
   Lucara Diamond reported revenue of $32.5 million for the first quarter that ended on March 31, 2013, after recording no revenue last year.
  • Profit rose to $6.2 million, compared to a loss of $4.2 million in 2012. 
  • Lucara sold 144,712 carats of rough diamonds during the period.
  • A special tender of Karowe diamonds consisting of 15 single lots of diamonds sold for $25 million or $30,468 per carat.

Petra’s Revenue Increases
   Petra Diamonds reported that revenue rose 8 percent year on year to $105.7 million during the third fiscal quarter that ended on March 31, 2013.
  • Petra sold 668,193 carats of diamonds during the quarter, 7 percent more than one year ago. 
  • Petra sold a 25.50-carat blue diamond that was recovered from its Cullinan mine in South Africa in April for $16,910,180 or $663,144 per carat.

Article from the Rapaport Magazine - June 2013. To subscribe click here.

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