RapNet


Rapaport News

 

Polished Markets

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

US Polished Imports Down 61% in March

Shipments hit lowest monthly level since 2009.
May 19, 2020 6:47 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... US polished-diamond imports fell in March to their lowest level since April 2009 as the coronavirus hit global trading. The month saw the 12th consecutive year-on-year decline, according to Rapaport archives based on data from the US Commerce Department.

US Trade Data for March 2020
  Mar 2020 Year-on-year change
     
Polished imports $863M -61%
Polished exports $823M -51%
Net polished imports $40M -93%
Rough imports $11M -72%
Rough exports $15M -78%
Net rough imports -$4M Deficit decreased 86%
Net diamond account $36M -93%
     
Polished imports: volume 454,810 carats -51%
Average price of polished imports $1,898/carat -21%
     
  Jan-Mar 2020 Year-on-year change
     
Polished imports $3.73B -32%
Polished exports $3.46B -31%
Net polished imports $270M -44%
Rough imports $55M -51%
Rough exports $72M -44%
Net rough imports -$17M Deficit increased 2%
Net diamond account $253M -45%
     
Polished imports: volume 1.9 million carats -21%
Average price of polished imports $1,946/carat -14%


Source: US Commerce Department data; 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.

Correction, August 6, 2020: A previous version of this article contained incorrect data on polished imports and exports for March and the year to date.

Image: A woman wears a mask in Manhattan. (Shutterstock)
Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Coronavirus, COVID-19, exports, imports, net diamond account, net polished imports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data, US, US Commerce Department
Similar Articles
IGI CVD 150Lab Grades Its Largest CVD Diamond
Nov 26, 2020
The International Gemological Institute’s (IGI) Hong Kong laboratory has...
Coronavirus Updates: Impact on the Diamond Trade
US Polished Imports Continue to Drop
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us