Net U.S. Polished Diamond Imports Up 22%

(IDEX Online News) - The U.S. imported in September $1.47 billion worth of polished diamonds and exported $1.24 billion worth of goods for net imports of $235.2 million, based on data released by the U.S. International Trade Commission. Net imports increased 22 percent from September 2009.

Gross polished imports increased 16 percent year-over-year and 10 percent from August, averaging in value $1,260.93 per carat. Exports of polished averaging $399.03 p/c increased 18.6 percent year-over-year.

The increase in trade reflects the improved economic environment and hopes that consumers will show up in stores, shopping for diamond jewelry for the holiday. However, imports are yet to return to their 2008 levels, lagging behind some 15.7 percent.

Israel supplied the U.S. with $548.7 million worth of polished diamonds, carrying an average value of $3,234.32 p/c. India led in supplies by volume, shipping 812,366 carats of polished averaging $575.12 p/c.

The leading export destination in September was Hong Kong, when the important trade show took place. American traders sent $414 million worth of goods at an average value of $217.42 p/c.

In the first nine months of the year, gross imports totaled $13.26 billion.