Average Value of U.S. Polished Diamond Imports Up 32% in February

Polished diamond imports rose 7.58 percent to $1.414 billion in February compared to February 2006, while dropping in volume 18.45 percent to 1,221,456 carats. The shift pushed the average value of polished diamond imports up to $1,157.96 p/c (per carat), a 31.92 percent increase.

In January, U.S. imports of polished diamonds witnessed the same trend of rising imports by value and declining by volume, though the February trend was more pronounced. Imports in January rose 12.71 percent in value and fell 5.87 percent in volume, causing average value to rise by 19.73 percent.

During the first two months of the year, $2.85 billion worth of polished diamonds were imported, a 10.11 percent increase compared to 2006, while volume decreased 12.19 percent to 2,619,731 carats.

Israel continues to be the leading supplier of polished goods by value to the U.S., shipping $730.4 million worth of diamonds - over 50 percent of total imports. With 275,254 carats of goods, the average value stood at $2,653.71 p/c.

India was the source of $267.55 million worth of goods, the leading supplier by volume with 699,362 carats of diamonds with an average value of $382.56 p/c.

Next was Belgium, which shipped 137,635 carats worth $260.45 million, averaging $1,892.35 p/c.