25% Drop in Japan’s Polished Diamond Imports

Japan’s imports of polished diamonds dipped in August to $45.89 million, the lowest import level in more than three years. Some 177,232 carats of polished were imported at an average value of $258.90 per carat.

Imports marked a 25.4 percent decline in value and 0.7 percent in volume, as the country continues to focus on lower priced items. These are disappointing results after Japan increased imports in July, for the first time since November 2007.

India shipped to Japan 137,014 carats worth $22.67 million, a 9.5 percent decline in volume and 39.5 percent decline in value compared to August 2007. India is Japan’s main supplier of polished diamonds - nearly half by value and three quarters by volume.

Conversely, imports from Hong Kong more than doubled year-over-year, rising 236.8 percent to $7.36 million for goods averaging $275 p/c.

In the first eight months of the year, Japan imported $536.21 million worth of goods weighing 1.58 million carats, a $339.25 p/c average. Year-over-year, imports declined nearly 10 percent in value, while rising 5.2 percent in volume.