Polished Imports to Japan Continue to Fall in April
June 04, 07 by Edahn Golan
Imports of polished diamonds to Japan continue to decline, plummeting 20.7 percent in value to $69,363,000. By volume, imports fell 15.9 percent to 177,752 carats. Japan’s polished diamond imports have been in continual decline since August 2006. With the exception of July and January 2006, imports have waned since October 2005.
Imports from India, Japan’s leading source of polished goods, perhaps reveal the most. April imports from the sub-continent represent 45.6 percent of total imports by volume and 74 percent in value.
India supplied 131,514 carats, worth $31.64 million – a decline of 18.6 by volume and 21.6 percent by value. The average value of goods stood at $241 p/c (per carat).
Imports from Belgium, Japan's second leading source, also declined in volume and value – 9.4 percent (15,906 carats) and 15 percent ($20.8 million) respectively for an average of $1,309 p/c.
Israel and Hong Kong were the only leading suppliers to increase their trade with Japan – and this was only in volume. Israel shipped 6,313 carats (an 8.9 percent increase), worth $7.4 million (a 4.6 percent decline) at an average $1,173 p/c.
Hong Kong shipped 15,084 carats worth $1.246 million, a sharp 66.9 percent rise in volume yet an even sharper 76.3 percent fall in value. The average was only $83 p/c.
The future of polished trade may yet see a turnaround. This morning, the Japanese government announced that corporate spending increased a record 13.6 percent in the first quarter, a positive indication for the world’s second largest economy. Only time will tell if this will trickle down to consumers – who will in turn buy more diamond jewelry.
