Rapaport Magazine
Economics

Economic Bulletin

U.S. Polished Imports Jump
   The U.S. Department of Commerce reported year-on-year statistics for July:
  • Polished diamond imports surged 22 percent year on year to $2.13 billion. The volume of polished imports increased 7 percent to 1.07 million carats.
  • Polished diamond exports jumped 18 percent to $1.45 billion. 
  • Rough diamond imports skyrocketed 83 percent to $86 million.
  • Rough diamond exports fell 19 percent to $17 million.

Belgium’s Polished Exports Soar
   The Antwerp World Diamond Centre (AWDC) released year-on-year statistics for August:
  • Polished diamond exports surged 36 percent to $548.1 million. The volume of carats exported fell 1 percent, but the average price per carat jumped 38 percent to $2,112. 
  • Polished diamond imports increased 18 percent to $895.6 million. 
  • Rough diamond imports increased 28 percent to $842.2 billion.
  • Rough diamond exports jumped 16 percent to $496.4 billion.
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India’s Polished Exports Surge
   India’s Gem and Jewellery Export Promotion Council (GJEPC) reported year-on-year data for August:
  • Polished diamond exports rose 36 percent to $1.93 billion. By volume, polished exports grew 23 percent to 3.770 million carats. 
  • Polished diamond imports jumped 45 percent to $524.7 million.
  • Rough diamond imports increased 32 percent to $681.6 million.
  • Rough diamond exports dropped 16 percent to $134.7 million.

Japan’s Polished Imports Fall
   Citing data from the Finance Ministry of Japan, Momozawa reported that polished diamond imports fell 7 percent year on year to $79.1 million in July.
  • By volume, diamond imports increased 2 percent to 203,557 carats.
  • The average price of the imports declined 9 percent to $388 per carat.

Hong Kong’s Polished Imports Increase
   The Diamond Federation of Hong Kong, China reported year-on-year data for the first half of 2013:
  • Polished diamond imports increased 5 percent to $8.88 billion.
  • Polished diamond exports decreased 4 percent to $5.8 billion.
  • Rough diamond imports rose 8 percent to $956 million. 
  • Rough diamond exports increased 43 percent to $1.39 billion.

ALROSA’s Revenue Up
   ALROSA reported that group revenue for the first half that ended on June 30, 2013 increased 7 percent year on year to $2.55 billion (RUB 82.23 billion).
  • Profit fell 10 percent to $453 million (RUB 14.62 billion) due to further foreign-exchange losses and higher interest expenses, the company explained. 
  • Dinnur Galikhanov, an analyst with Aton Equity Research, has maintained a buy rating for ALROSA in the past nine months. However, he expects foreign-exchange losses to have a deeper impact on the company’s bottom line for the full year, estimating that net profit may fall by as much as 30 percent in 2013.

Petra’s Profit Rises
   Petra Diamonds reported a profit of $27.9 million in the fiscal year that ended on June 30, 2013, compared with a loss of $2.1 million one year ago.
  • Revenue rose 27 percent year on year to $402.7 million and production increased 21 percent to 2.668 million carats, boosted by the first full-year production at the Finsch mine after it was acquired from De Beers.

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

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