Japan's Polished Diamond Imports Up 15.6%
September 27, 11 by Edahn Golan
(IDEX Online News) – Japan imported $65.4 million worth of polished diamonds in July, rising 15.6 percent compared to July 2010. The rise reflects soaring polished prices as well as a renewed appetite for the luxury item.
Japan imported 141,332 carats of loose diamonds in July carrying an average value of $462.39 per carat, based on figures released by Momozawa & Co.
India was source of most of the imported goods, 102,845 carats, worth $33 million or $321 p/c. Belgium followed with 6,592 carats worth $11 million, an average of $1,673 p/c.
After years of sagging sales, Japan has become a growing consumer of diamond jewelry this year. The change followed the natural disasters it faced in March. In August, jewelry sales at Japan's department store increased 5.3 percent despite a one percent decline in overall sales.