Japan: Rise in Average Value of Diamond Imports in November

Japan’s imports of polished diamonds totaled $55.56 million in November, a 26 percent decline from November 2007. In volume, imports fell 38.7 percent year-over-year to 121,825, according to the J Club Inc, Japan.

While Japan’s imports are generally below the previous year’s levels, the average value of imports are remarkably higher - $456.03 per carat in November 2008 compared with $377.53 p/c in November 2007, a 20.8 percent increase.

The rise in average value is a trend that started after they hit a low in August, when the value was 25 percent ($259 p/c) below the previous year. That gap narrowed since September to 18.4 percent ($321.7) below September 2007, and shrinking to just 3.5 percent ($326) in October.

Imports of 22,053 carats of diamonds from Belgium are valued at $23.5 million, averaging $1,066 p/c. Imports of 74,091 carats from India averaged $195 p/c for a total of $14.5 million. While imports from Belgium were at the same level as in November 2007, imports from India were halved.

Imports from Israel, however, were on the rise, totaling $9.6 million for 9,277 carats, rising 19.3 percent year-over-year in value and 4.3 percent in volume.