U.S. Rough Imports $35.7 Million in July

Gross rough diamond imports by the U.S. increased 52.2 percent to $35.7 million in July, according to the US International Trade Commission. Net imports stood at $24.9 million, while the country’s trade by volume continues to show greater exports than imports.

The U.S. imported 39,203 carats of rough diamonds at an average value of $911.56 per carat, a 59.8 percent decline in volume and 278.6 percent leap in average value.

Exports grew 19.7 percent to $10.8 million and in volume, exports of 124,668 carats are a 164.2 percent year over year increase. The average value of exports was a low $86.66 p/c.

The volume of exports exceeded imports by 85,465 carats. To date, net exports of rough diamonds reached 286,281 carats. Attempts to find an explanation to this have so far failed.

The value of U.S. gross imports has been steadily declining since May; however, the value of net imports has been steadily rising since April.

Angola was the leading source of rough to the U.S., shipping 3,809 carats of rough worth $16.3 million, or $4,280.72 p/c. South Africa was the second leading source, with 29,363 carats worth $9.3 million.

Nearly half of the country’s rough diamond exports, $4.8 million, were to Israel.