Advanced Search

U.S. Polished Diamond Exports Surge in Nov.

Net Imports Total $83M of Polished Diamonds

Jan 13, 2012 9:41 AM   By Jeff Miller
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... U.S. polished diamond imports for the month of November rose 6.6 percent year on year to $1.544 billion and that increase was driven by a 34 percent surge in the average price per carat, which hit a record $2,024. The U.S. imported 762,560 polished carats during November, which was 21 percent lower than one year earlier. Meanwhile, polished diamond exports skyrocketed 29 percent year on year to $1.461 billion, leaving net polished diamond imports of only $83 million compared with imports of $316 million in November 2010.

Rough diamond imports jumped 26 percent year on year in November to $68 million and rough exports leaped 58 percent to $41 million. The U.S. imported a net $27 million worth of rough stones or basically the same as one year ago.  For the month of November, the U.S. held a net diamond account, representing total imports less exports, of $110 million and the figure reflected a 68 percent decline from November 2010.

Polished diamond imports for the period of January through November 2011 have risen 21 percent year on year to $20.152 billion with 20 percentage points simply reflecting higher prices per carat. Polished diamond exports have surged 31 percent to $16.499 billion and the price per carat on goods leaving the U.S. were up 94 percent to $1,177.  The rough diamond trade regularly exhibits wide year-on-year swings, so for the first 11 months of 2011, rough diamond imports were up 25 percent to $578 million and rough exports increased 34 percent to $385 million, leaving a surplus of $193 million compared with $174 million in 2010. The year-to-date net diamond account, however, has fallen 13 percent to $3.846 billion.

Tags: deficit, diamonds, exports, imports, Jeff Miller, surplus, trade
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.