Japan’s Polished Imports Continue to Slide in November

Imports of polished diamonds to Japan fell 19.1 percent in November, totaling $74.3 million. The country imported 214,915 carats during the month, an average of $346 p/c (per carat). The average value is also declining, as imports by volume have increased 18.3 percent.

According to data released by J Club Japan, during the first 11 months of the year, Japan imported $945.5 million worth of loose diamonds, an 11.7 percent decline compared to 2005. In weight, it imported 2,516,041 carats, a 9.8 percent increase, lowering the average price to $375.79 p/c.

India was the leading source of polished goods to Japan by value - $26.78 million or 36 percent of total - and volume - 154,549 carats, 71.9 percent for an average value of $173 p/c. Belgium followed with $17.828 million and 17,437 carats – an average of $1,022 p/c.

Israel was the third leading supplier by value, shipping 8,654 carats worth $10.57 million - $1,222 p/c. Hong Kong was the third largest supplier by volume, 17,014 carats worth $6.07 million, an average of $357 p/c.

Several diamond dealers have expressed concerns recently about trade with Japan, fearing the economic recovery will flatten in 2007. One Indian Sightholder told IDEX Online that he is not seeing great activity in that country anymore.