Japan Imports $619 Million of Polished Diamonds in 2009

Japan’s polished diamond imports fell 19.7 percent in 2009 to $619.2 million, averaging $285.55 per carat, according to figures published by The J Club Japan, Inc.

The declining imports seen throughout last year rebounded somewhat in December, when the country imported $43.9 million worth of polished diamonds, 0.9 percent less compared to December 2008.

Imports from India, Japan’s leading diamond supplier, totaled $260.8 million in 2009, a 10.4 percent decline compared to 2008. The volume of imports was steady at 128,625 carats, bringing down the average value of imports to $137 p/c.

Belgium shipped $138.5 million worth of goods to Japan during the year, a decline of 35.8 percent compared to 2008.

Japanese consumers have expressed a lesser interest in diamond jewelry during the last few years. This is harming not only polished diamond imports, but also the performance of leading international jewelry retailers such as Tiffany & Co.. Tiffany, despite its strong brand name, has posted dismal earning’s results in the country.

Courtesy the J Club Japan

Courtesy the J Club Japan

Courtesy the J Club Japan