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US Polished Imports Continue to Grow

Higher volumes drive August increase.
Nov 4, 2018 7:37 AM   By Rapaport News
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RAPAPORT... US polished-diamond imports rose 16% in August, continuing an upward trend for the year. The August growth reflected higher volumes (up 22% to 894,066 carats), with the average price slipping 5% to $2,016 per carat. A higher average price for the first eight months drove a 6% increase in imports for that period.

US Diamond Trade Data for August 2018

Millions unless stated otherwise Aug 2018 Year-on-year change
Polished imports $1,803 16%
Polished exports $1,749 27%
Net polished imports $53 -70%
Rough imports $25 -24%
Rough exports $32 -75%
Net rough imports -$6 Deficit decreased 93%
Net diamond account $47 -45%
     
Polished imports: volume 894,066 carats 22%
Average price of polished imports $2,016/carat -5%
     
  Jan-Aug 2018 Year-on-year change
Polished imports $15,686 6%
Polished exports $13,402 9%
Net polished imports $2,284 -10%
Rough imports $412 -26%
Rough exports $356 -32%
Net rough imports $56 93%
Net diamond account $2,339 -9%


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: Israel Diamond Week in New York, October 2018.
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Tags: Average Price, imports and exports, net diamond account, net polished imports, Net rough imports, polished exports, polished imports, polished-diamond imports, Rapaport News, rough exports, rough imports, trade data, US
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