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US Polished Imports Rise in 1Q
Jun 6, 2019 7:53 AM
By Rapaport News
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RAPAPORT... Shipments of polished diamonds to the US grew 4% to $5.51
billion in the first quarter, as a stronger March canceled out a negative start
to the year. Imports rose 13% to $2.23 billion for the month, compared with a
1% rise in January and a 3% decline in February.
US Diamond Trade Data for March 2019
| Millions unless stated otherwise |
Mar 2019 |
Change |
| Polished imports |
$2,233 |
13% |
| Polished exports |
$1,665 |
0% |
| Net polished imports |
$568 |
84% |
| Rough imports |
$40 |
-64% |
| Rough exports |
$66 |
-3% |
| Net rough imports |
$-26 |
2018: Surplus of $43M |
| Net diamond account |
$542 |
54% |
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| Polished imports: volume |
928,150 carats |
5% |
| Average price of polished imports |
$2,406/carat |
7% |
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1Q 2019 |
Change |
| Polished imports |
$5,510 |
4% |
| Polished exports |
$5,031 |
0% |
| Net polished imports |
$479 |
94% |
| Rough imports |
$113 |
-42% |
| Rough exports |
$130 |
-10% |
| Net rough imports |
$-16 |
2018: Surplus of $50M |
| Net diamond account |
$462 |
55% |
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| Polished imports: volume |
2.4 million carats |
7% |
| Average price of polished imports |
$2,268/carat |
-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: A woman in a jewelry-store window in New York’s diamond district. (Timothy Krause/Flickr)
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Tags:
net diamond account, new york, Polished Diamonds, polished imports, Rapaport News, Rough Diamonds, trade data, US
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