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RAPAPORT...
U.S. polished diamond imports for March 2012 fell 7.2 percent year on year to $1.804 billion and polished exports dropped 1.6 percent to $1.532 billion. By volume, imported polished diamonds were reduced 14.6 percent year on year to 1,135,621 carats. Net polished imports by value plunged 29.7 percent to $272 million.
Rough diamond imports jumped 40.5 percent to $52 million while rough exports dropped by 9.5 percent to $38 million, leaving net rough imports of $14 million compared with a deficit of $5 million in March 2011. The net diamond account, removing polished and rough exports from imports, fell 25.1 percent to $286 million. For the first quarter of 2012, polished diamond imports have dropped 6.7 percent year on year to $4.814 billion, while exports have fallen only 0.7 percent to $4.295 billion. Net polished imports have plummeted 37.5 percent to $519 million. Rough imports have declined 31 percent to $120 million, however, rough exports have risen 4.8 percent to $110 million, leaving net rough imports of $10 million compared with $69 million in the first quarter of 2011. The net diamond account for January through March is 41 percent lower than one year ago at $529 million.
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