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US Polished Trade Grows in First Half
Aug 27, 2018 8:04 AM
By Rapaport News
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RAPAPORT... The US saw an increase in polished-diamond
imports in the first half of 2018, reflecting robust consumer demand and a
higher average price. Inbound shipments rose 5% by value in the first six
months, and jumped 8% in the second quarter. April to June is a busy period for
the US polished trade due to the JCK Las Vegas show. June itself was slightly
slower than a year ago, with imports down 1% as lower volumes offset a higher
average price.
US Diamond Trade Data for June 2018
| $ Millions unless stated otherwise |
June 2018 |
Year-on-year change |
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| Polished imports |
1,648 |
-1% |
| Polished exports |
2,343 |
-14% |
| Net polished imports |
(696) |
Deficit decreased 33% |
| Rough imports |
63 |
-38% |
| Rough exports |
43 |
-45% |
| Net rough imports |
20 |
-16% |
| Net diamond account |
(675) |
Deficit decreased 34% |
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| Polished imports: volume (thousand carats) |
703 |
-3% |
| Average price of polished imports ($/carat) |
2,345 |
2% |
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Apr-June 2018 |
Year-on-year change |
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| Polished imports |
6,559 |
8% |
| Polished exports |
5,202 |
1% |
| Net polished imports |
1,357 |
47% |
| Rough imports |
163 |
-39 |
| Rough exports |
155 |
-30 |
| Net rough imports |
8 |
-83 |
| Net diamond account |
1,365 |
41% |
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Jan-June 2018 |
Year-on-year change |
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| Polished imports |
11,851 |
5% |
| Polished exports |
10,247 |
5% |
| Net polished imports |
1,605 |
1% |
| Rough imports |
356 |
-24% |
| Rough exports |
298 |
-16% |
| Net rough imports |
58 |
-50% |
| Net diamond account |
1,663 |
-2% |
Source: US Census Bureau; Rapaport 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. 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.
Main image: avagyanlevon/Shutterstock
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Tags:
imports, imports and exports, net diamond account, net polished imports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports, shipments, trade data, US, US Polished Trade
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