Economic Bulletin

U.S. Polished Imports Jump
   The U.S. Department of Commerce reported year-on-year statistics for May:

• Polished diamond imports rose 22 percent to $3.19 billion. By volume, polished imports were flat at 1.5 million carats, while the average price rose 23 percent to $2,117 per carat.
• Polished diamond exports grew 13 percent to $1.49 billion as the price per carat increased 45 percent to $1,787 per carat.
• Rough diamond imports decreased 4 percent to $53 million.
• Rough diamond exports fell 44 percent to $15 million in May.
  
  

Israel’s Polished Exports Down
   Israel’s Ministry of Industry, Trade and Labor reported year-on-year data for the first half of 2013:

• Polished diamond exports fell 2 percent to $3.23 billion.
• Polished diamond imports declined 5 percent to $2.08 billion.
• Rough diamond imports rose 3 percent to $2.04 billion.
• Rough diamond exports increased 8 percent to $1.64 billion.

India’s Polished Exports Soar
   India’s Gem and Jewellery Export Promotion Council (GJEPC) reported year-on-year data for June:

• Polished diamond exports rose 22 percent to $1.48 billion. By volume, polished exports grew 7 percent to 2.776 million carats.
• Polished diamond imports more than doubled to $695.3 million.
• Rough diamond imports increased 15 percent to $1.37 billion.
• Rough exports fell 1 percent to $111.8 million.
• For the first half of the calendar year, India’s polished exports rose 19 percent to $10.6 billion, while polished imports increased 18 percent to $3.8 billion, according to Rapaport News calculations. Rough imports increased 11 percent to $8.66 billion and rough exports grew 24 percent to $1.03 billion.

Belgium’s Polished Exports Rise
   The Antwerp World Diamond Centre (AWDC) released year-on-year statistics for June:

• Polished diamond exports in June rose 3 percent to $1.36 billion. By volume, exports rose 0.7 percent to 641,674 carats.
• Polished diamond imports fell 2.3 percent to $1.44 billion.
• Rough diamond imports jumped 17 percent to $1.08 billion.
• Rough diamond exports surged 17 percent to $1.26 billion.

Japan’s Polished Imports Fall
   Citing data from the Finance Ministry of Japan, Momozawa reported that polished diamond imports fell 15 percent year on year to $64.5 million in May.

• By volume, imports grew 31 percent to 180,554 carats.
• The average price dropped 35 percent to $357 per carat.

Dubai’s First Half Rough Trading Up
   The Dubai Diamond Exchange (DDE) reported on rough trading in the first half of 2013. Published in a trading update by Dubai Multi Commodities Centre (DMCC), the report did not include news on polished trading.

• Total rough diamond trading, including rough exports and rough imports, rose 5 percent year on year to $6.2 billion.
• By volume, rough trading increased 11 percent to 66.4 million carats as the average price of the goods fell 5 percent to $93.37 per carat.
• Rough diamond exports rose 3 percent to $3.7 billion. By volume, rough exports grew 12 percent to 34 million carats as the average price of the stones fell 8 percent to $108.82 per carat.
• Rough diamond imports grew 7 percent to $2.5 million.

   The DMCC also announced plans to open a diamond control office at DDE to accurately track and value the country’s trade in polished diamonds. Slated for the end of 2013, it will operate under the authority of the DMCC and exist parallel to the United Arab Emirates (UAE) Kimberley Process (KP) office.

Rockwell’s Production Falls
   Diamond production at Rockwell’s operational mines in South Africa fell 33 percent year on year to 4,824 carats in the first quarter of fiscal 2014 that ended on May 31, 2013. The company attributed the decline in production to operations at the Tirisano mine being placed on care and maintenance in December 2012 and to the sale of the Klipdam mine at the end of March.

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