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U.S. July Polished Diamond Imports +25% to $2B

Polished Carat Volume Falls 8%

Sep 8, 2011 9:35 AM   By Jeff Miller
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RAPAPORT... U.S. polished imports for the month of July 2011 rose 25 percent year on year to $2.06 billion and polished exports rose 20 percent to $1.42 billion, leaving net imports of $643 million compared with $467 million in July 2010. In terms of volume, the number of polished carats imported in July fell 8 percent year on year to 1.191 million and the average price per carat rose 36 percent to $1,727.

Rough imports jumped 80 percent year on year to $65 million and rough exports soared 391 percent to $54 million, leaving net imports of $11 million compared with $25 million one year earlier.  The net diamond account in July for the U.S., reflecting the value of polished and rough imports that stayed, was $654 million compared with $492 million in July 2010.

Polished imports for the first seven months of 2011 rose 28 percent year on year to $13.35 billion and polished exports  jumped 37 percent to $10.8 billion, leaving net imports of $2.56 billion or just slightly less than the $2.59 billion recorded one year ago for this seven-month period. Rough imports were up 30 percent to $393 million and rough exports skyrocketed 72 percent to  $277 million, leaving net rough imports of $116 million compared with $141 million in the first seven months of 2010.

The net diamond account for the U.S. for the January through July period stood at  $2.68 billion compared with $2.73 billion in 2010.

Tags: commodities, deficit, diamonds, exports, imports, Jeff Miller, u.s.
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