Japan’s Diamond Imports Rise for the Holiday, But Still Weak

November 29, 09 by Edahn Golan

Japan’s polished diamond imports, still well below last year’s import levels, showed a positive trend in October, the second consecutive monthly increase in a series of month-over-month growth. Japan imported 205,026 carats of polished diamonds worth $66.35 million in October, according to data published by the J Club Inc. Imports averaged $323.62 per carat.

Compared to September, imports rose 18.8 percent in value and 20.3 percent in volume.

The rise in imports is in line with past year trends where there was an increase in imports after dipping in August. In 2007 and 2008 imports decreased in November and December, a trend that is likely to repeat itself this year too. The September and October rise comes as retailers stock up on goods ahead of the holiday season.

Year-over-year, imports fell 11.4 percent in value and 10.7 percent in volume.

In the first ten months of 2009, Japan imported $523.45 million worth of polished diamonds averaging $285.48 p/c. Imports to date fell 22 percent in value and 8.2 percent in volume compared to the first ten months of 2008.

Source: The J Club Inc. Japan

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