Japan’s Polished Imports Slide 17% to $73.3 Million

The continuing drop in Japan’s polished diamond imports did not slow in July; on the contrary, it declined a further 17 percent year-over-year to $73.28 million, according to the J Club, Inc. In volume, the drop was 22.3 percent to 196,819 carats, as Japan is shifting to more expensive goods.

The average price per carat in July was $372.35, up from $365.74 in July 2006, a 1.8 percent rise.

Imports from India fell 22.7 percent to $29.97 million on imports of 146,123 carats, a 28.8 percent drop in volume, for an average of $205.09 p/c.

Imports of 18,933 carats worth $21.08 million from Belgium fell 17.3 percent in volume and 12.5 percent in value, bringing the average value to $1,113 p/c.

Israel was the source of 6,522 carats worth $8.47 million, an average of $1,299 p/c.

Compared to 2006, in the first seven months of the year Japan decreased the value of its imports by 17 percent to $533.28 million. The total weight of imports during the period decreased 17.3 percent, totaling 1,323,986 carats.

The average value of imports in the January-July period was $402.78 p/c, a slight rise from $401.41 p/c in 2006.