U.S. Polished Diamond Imports Surge in October

(IDEX Online News) - The U.S. imported a net of $660.4 million worth of polished diamonds in October, a 34.6 percent year-over-year increase. Sans exports of $1.25 billion, U.S. gross imports totaled $1.91 billion.

By volume, gross imports declined from last year by 9.1 percent to 1.3 million carats, averaging $1,440.74 p/c. This is the first time since November 2009 that the volume of monthly imports exceeds exports.

Net imports of 196,538 carats averaged a high $3,360.27 p/c as traders exported the lower cost goods. The country exported 1.1 million carats averaging $1,106.22 p/c in October.

In the first ten months of 2010, the U.S. imported 11.6 carats worth $15.17 billion averaging $1,304.14 p/c. These figure mark increases across the board:    28.3 percent by volume, 50.7 percent by value and a 17.5 percent increase in the average per carat value.