U.S. Rough Diamond Imports Leap in November

(IDEX Online News) - As 2010 was drawing to an end, net rough diamond imports shot up dramatically, totaling more than $28 million, the highest level since January of that year. In terms of volume, imports were greater than imports for a net trade of -67,510 carats.

Gross rough diamond imports in November stood at $53.8 million on imports of 21,125 carats averaging $2,550.40 p/c. These figures represent a very sharp year-over-year increase in monthly imports: 324.6 percent by value, 138.1 percent by volume and a 78.3 percent increase by average value.

While gross imports swelled, gross exports shriveled. Exports of 88,635 carats worth $25.1 million averaged $291.84 p/c, decreasing 53.1 percent by value, 5.7 percent in volume and falling 50.3 percent by average value.

South Africa was source of 40.3 percent of U.S. rough supplies in November, $21.7 million worth of goods averaging $1,680.69 p/c. Angola was the second leading source with $15.6 million at a high $7,102.25 p/c.

Two countries, Belgium and Israel, were the destination of 76.5 percent of total exports. Belgium took in $10.5 million worth of goods averaging $147.04 p/c and Israel another $9.3 million at an average of $966.71 p/c.

A unique stone was imported from an unlikely destination, Saudi Arabia. According to custom records, 5 carats worth $754,416, or $150,883.20 p/c, were imported from the kingdom.

Source: U.S. Department of Commerce and the U.S. International Trade Commission