U.S. Polished Diamond Imports Exceed Pre-Crises Levels

The U.S. imported $1.78 billion worth of polished diamonds in June, an 82 percent year-over-year increase. The volume of imports, 1.1 million carats, is 33.9 percent more than was imported in June 2009.

The continued revival in polished diamond imports also reflects rising polished diamond prices. The average value of gross imports increased 35.9 percent to $1,553.67 per carat.

For the first time since the U.S. economy started to recover from the recession, monthly imports exceeded pre-crisis levels, rising 11.6 percent above imports in June 2008.

Exports of 2 million carats, mainly returns to diamond trading centers, totaled $1.63 billion at an average value of $571.68 p/c. This is a 21.8 percent decline in volume, a 68.8 percent increase in value and a 116 percent leap in the average value.

Net polished diamond trade totaled $146.7 million, while in volume the country’s exports exceeded imports by 904,719 carats.

In the first half of the year, the U.S. imported $8.82 billion worth of polished diamonds, 63.6 percent more than it imported in the first six months of 2009.

All figures indicate a revival in U.S. polished diamond trade - the volume and total value of imports are increasing, as is the average value of the goods. As the market enters the pre-holiday season period, expectations are for a continued improvement that would end with robust retail sales in the fourth quarter.