U.S. Polished Diamond Exports Rise 12.82% in May
July 13, 06 by Edahn Golan
U.S. imports of polished diamonds were on the upswing in May, rising 12.82 percent to $1.753 billion on imports of 1,586,330 carats of goods at an average of $1,105 per carat. Rough diamond imports, however, declined slightly (0.52 percent) to $87.8 million on imports of 58,786 carats.
Polished diamond imports rose 5.57 percent in volume in May, compared to May 2005, when the average per carat price stood at $1,034.
Leading exporters to the U.S. in value were Israel ($932 million), Belgium ($333 million), and India ($284 million). These countries respectively represent 52 percent, 19 percent, and 17 percent of total imports to the U.S.
In volume terms, India topped the chart (852,598 carats / 56 percent), followed by Israel (396,927 carats / 21 percent) and Belgium (170,850 carats / 9 percent).
The average imported value per carat from these three countries was $2,349 per carat for Israeli goods, $1,950 per carat for Belgium, and $333 per carat for Indian shipments.
Rough diamond trade slowed in May compared to 2005. While imports declined only moderately in value, they fell nearly 60 percent in volume to 58,789 carats. The difference between the two caused average price per carat to shoot up 148.24 percent to $1,494 from $602 in 2005.
