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US Polished-Diamond Imports Increase

Shipments up 10% in September, and 6% for the first nine months.
Nov 26, 2018 7:32 AM   By Rapaport News
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RAPAPORT...
 Polished-diamond imports to the US grew in September, according to government data.

Shipments into the country increased 10% year on year to $1.95 billion, the third consecutive monthly rise, even as import volume dropped 19% to 902,000 carats, figures showed. The average price jumped 35% to $2,157 per carat.

Polished exports slid 3% to $1.66 billion, while net polished imports — representing imports minus exports — grew to $283 million versus $66 million during the same period a year ago.

Rough imports declined 16% to $49 million, and rough exports decreased 19% to $29 million. Net rough imports fell 12% to $20 million. The net diamond account — calculated as total rough and polished imports minus total exports — more than tripled to $304 million compared to $89 million for the same month last year.

In the first nine months of the year, polished imports grew 6% year on year to $17.63 billion, with polished exports up 8% to $15.07 billion. Net polished imports slipped 1% to $2.57 billion.

Rough imports for the nine-month period ending September 30 dropped 25% to $461 million, while rough exports fell 31% to $385 million. Net rough imports climbed 46% to $76 million. The US net diamond account for the first nine months slipped 1% to $2.64 billion.

Image: New York’s diamond district. (Tdorante 10)
Tags: net diamond account, net polished imports, Rapaport News, US data, US Polished Diamonds
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