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US Polished Imports Slump in April

Figure falls 20% for the month.
Jun 17, 2019 8:07 AM   By Rapaport News
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RAPAPORT... The US polished-diamond trade slowed in April, with imports declining and exports stable. The drop in import value reflects both a lower volume and average price.

US Diamond Trade Data for April 2019

Millions unless stated otherwise Apr 2019 Year-on-year change
Polished imports $1,496 -20%
Polished exports $1,501 7%
Net polished imports $-5 2018: Surplus of $464M
Rough imports $28 -39%
Rough exports $9 -85%
Net rough imports $19 2018: Deficit of $15M
Net diamond account $14 - 97%
     
Polished imports: volume 682,140 carats -9%
Average price of polished imports $2,193/carat -12%
     
Millions unless stated otherwise Jan-Apr 2019 Year-on-year change
Polished imports $7,006 -2%
Polished exports $6,532 1%
Net polished imports $474 -33%
Rough imports $141 -41%
Rough exports $138 -32%
Net rough imports $3 -93%
Net diamond account $477 - 36%
     
Polished imports: volume 3.1 million carats 3%
Average price of polished imports $2,251/carat -5%


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.

Image: The west end of the New York diamond district at the corner of 47th Street and 6th Avenue. (Tdorante 10)
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Tags: net diamond account, net polished imports, Rapaport News, US data, US Polished Imports
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