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US Polished Imports Jump in April

Jul 10, 2018 3:31 AM   By Rapaport News
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RAPAPORT... The US polished-diamond trade saw significant year-on-year growth in April, according to the latest government data. The 20% increase in imports reflected both a higher volume and an improved average price. Shipments in and out of the US increased in the first four months of 2018.

US Diamond Trade Data for April 2018    
     
$ Millions unless stated otherwise Apr 2018 Year-on-year change
     
Polished imports 1,870 20%
Polished exports 1,406 21%
Net polished imports 464 15%
Rough imports 46 82%
Rough exports 61 -47%
Net rough imports -15 -84%
Net diamond account 449 43%
     
Polished imports: volume (thousand carats) 747 13%
Average price of polished imports ($/carat) 2,503 6%
     
  Jan-Apr 2018 Year-on-year change
Polished imports 7,162 5%
Polished exports 6,451 12%
Net polished imports 711 -33%
Rough imports 240 4%
Rough exports 204 -17%
Net rough imports 36 -322%
Net diamond account 747 -29%


Source: US government data; Rapaport calculations and archives

About the data: The US, the world’s largest diamond retail market, is a net importer of polished. As such, net polished imports — representing polished imports minus polished exports — will usually be a positive number. Net rough imports — calculated as rough imports minus rough exports — will also generally be in surplus, though April was an exception. The nation has no operational diamond mines but has a manufacturing sector, so normally ships more rough in than out. The net diamond account is total rough and polished imports minus total exports. It is the US’s diamond trade balance, and shows the added value the nation creates by importing — and ultimately consuming — diamonds.

Image: Chris Ruvolo 
Tags: 47th Street, government data, net diamond account, net polished imports, Net rough imports, new york, polished exports, polished imports, polished-diamond trade, Rapaport News, rough exports, rough imports, trade data, US
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