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U.S. Polished Imports Slide 4% in 2015

Feb 7, 2016 5:18 AM   By Rapaport News
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RAPAPORT... Polished imports to the U.S fell 4 percent to $23.1 billion in 2015 after the trade registered a relatively slower end to the year. By volume, polished imports dropped 5 percent to 11.125 million carats, while the average price of the imports rose 1 percent to $2,076 per carat, according to provisional government data.

Israel was the largest supplier even though imports slumped 10 percent to $8.32 billion. U.S. imports from India slipped 3 percent to $7.37 billion, while inbound shipments from Belgium declined 6 percent to $3.69 billion.

Polished exports by the U.S. dropped 12 percent to $18.32 billion, taking net polished imports – imports minus exports – to $4.78 billion, a jump of 53 percent from the previous year. This means the U.S., which is the world’s largest diamond consumer market, increased its net appetite for diamonds during the year, according to Rapaport calculations.

Rough imports dived 44 percent to $306 million and rough exports plunged 48 percent to $192 million. Net rough imports - imports minus exports - fell 37 percent to $114 million.

The net diamond account, which represents total polished and rough imports less total exports – soared 48 percent to $4.89 billion, signaling a net growth in the country’s diamond consumption in 2015.

Polished trade slowed toward the end of the year, with December imports declining 13 percent year on year to $1.63 billion, while exports fell 9 percent to $1.26 billion. In December, the U.S. net diamond account dropped 22 percent to $377 million.
Tags: 47th Street, Antwerp, diamonds, India, Israel, Jewelry, Rapaport News
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