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U.S. Polished Diamond Imports +85% in March

May 12, 2010 10:38 AM   By Avi Krawitz
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RAPAPORT... Polished imports to the U.S. rose 85 percent to $1.55 billion in March 2010, compared with one year ago. By volume, these imports increased by 63 percent to 1.212 million carats as the average price of these stones jumped 14 percent to $1,281.98 per carat.

Polished exports grew as well during the month by 68 percent to $1.22 billion and net polished imports, the excess of imports over exports, tripled to $336 million, compared with March 2009.

Rough diamond imports to the U.S. increased by 137 percent to $45 million, while rough exports were up 82 percent to $20 million. Net rough imports, the excess of imports over exports, tripled to $25 million.

The U.S. March net diamond account, comprised of total imports less total exports, grew 203 percent to $361 million.

During the first quarter of 2010, U.S. polished imports rose 73 percent to $4.08 billion, while by volume, they increased by 57 percent to 3.172 million carats, with average prices up 10 percent year over year to $1,286 per carat. Polished exports gained by 55 percent to $3.09 billion, so net polished imports dropped to $985 million.

Rough imports fell to $121 million during the first quarter, while rough exports rose by 63 percent to $52 million. Net rough imports grew tenfold to $69 million.

The U.S. net diamond account for January through March 2010 increased by 184 percent year over year to stand at $1.05 billion.

United States Rough and Polished Diamond Trade Data - March 2010

  By Value ($ million) By Volume (Cts 000s)
  Mar-10 From '09 1Q 2010 From '09 Mar-10 From '09
Polished Imports  $ 1,555 86%  $ 4,079 73%    1,212 63%
Polished Exports  $ 1,219 68%  $ 3,094 55%    2,601 38%
Net Polished Imports   $    336 203%  $     985 171%   (1,388) -21%
       
Rough Imports   $       45 137%  $     121 210%          47 44%
Rough Exports  $       20 82%  $       52 63%          83 218%
Net Rough Imports  $       25 213%  $       69 886%        (35) N/A
       
Net Diamond Account  $    361 203%  $ 1,054 184%   (1,424) -25%


LH
Tags: Avi Krawitz, Avi Krawitz, United States
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