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US Polished Trade Slows in October

Dec 19, 2017 3:29 AM   By Rapaport News
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US polished-diamond imports slumped 14% year on year to $1.81 billion in October, according to data the government released recently. By volume, polished imports dived 13% to 881,922 carats, with the average price declining 1% to $2,049 per carat. 

Polished exports fell 5% to $1.24 billion, leaving net polished imports — representing imports minus exports — 29% lower at $567 million, the figures showed. 

Rough imports more than doubled to $124 million from $51 million a year ago, while rough exports fell 61% to $46 million. Net rough imports, representing imports minus exports, stood at positive $78 million versus negative $67 million a year ago.

The US net diamond account — total rough and polished imports minus total exports — fell 11% to $646 million in October.

In the first 10 months of the year, polished imports dropped 8% to $18.38 billion, while polished exports declined 4% to $15.21 billion. Net polished imports slid 23% to $3.17 billion. Rough imports jumped 14% to $738 million, while rough exports leapt 51% to $608 million. Net rough imports fell 47% to $130 million, with the net diamond account down 24% to $3.3 billion.
Tags: net diamond account, Rapaport News, trade data, US, US exports, US imports
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