U.S. Polished Diamond Imports Yet to Regain Pre-Crash Levels

U.S. net polished diamond imports totaled $374.4 million in April, according to figures released by the U.S. Department of Commerce. Gross imports of $1.35 billion are a 69.6 percent year-over-year increase, yet still 10.8 percent below the value of imports in April 2008

While the diamond industry is expressing its satisfaction from the Las Vegas trade shows, the just released April figures show that there is still away to go before the full loss from the 2008-2009 crash is regained.

In terms of volume, the U.S. imported 1.04 million carats of polished and exported more than double that amount, 2.13 million carats, for a negative net import value of -1.08 million carats.

The average value of gross imports rose 21 percent to $1,292.83 per carat. In April 2008, the average value of imports was $1,617.21 p/c.

Month-over-month, Imports declined 12.9 percent in value and 13.1 percent in volume. A decline in imports in April compared to March is a typical annual trend.

Israel supplied the U.S. with a net of $265 million in polished diamonds, followed by India with a net of $211.6 million.