Japan’s Polished Diamond Imports $57 Million

Japan imported $56.6 million worth of polished diamonds in July, 20.2 percent more than it imported in July 2009 yet far less than the $74 million worth of goods Japan imported in July 2008, just before the global recession.

Imports of 183,746 carats were an 18.4 percent year on year increase, while the average value of $307.79 per carat was flattish, up 1.5 percent from July 2009, based on figures released by Momozawa & Co., Inc.

Most of Japan’s imports - 133,906 carats worth $22.9 million at an average value of $170.83 p/c - were imported from India.

Belgium followed with $12.7 million worth of goods at an average of $1,273.71 p/c. Israel was source of $6.9 million worth of goods averaging $1,025.85 p/c.

Compared to 2009, this year’s imports indicate a growth trend; the figures however are misleading. In the past few years, Japan’s polished diamond imports are continuously declining. Last year’s crash led to unusually low import levels and as a result, this year’s imports seem to be an improvement. However, comparing trade levels in the last four years shows that 2010 is a weaker year than 2008 and 2007, as the graphs below indicate.

Source:  Momozawa & Co., Inc.

Source:  Momozawa & Co., Inc.