U.S. Rough Trade in 2011 Largely Out of Sync with Global Trends

(IDEX Online News) – Net rough diamond imports by the U.S. increased 12.7 percent to $206.5 million in 2011. The increase in net value does not meet the inflation in rough diamond prices, well above 20 percent in 2011.

Gross rough diamond imports increased 20.3 percent to $630.3 million, based on Department of Commerce figures, while the volume of imports leaped 81.1 percent to 703,904.

The average value of gross imports fell 33.6 percent to $895.42 per carat.

The U.S. exported 1.1 million carats of rough diamonds worth a stated $423.8 million in 2011.

Compared to 2010, exports declined a small 0.4 percent in volume but increased 24.4 percent in value, reflecting global price and volume trends: a small decline in production coinciding with a large increase in price.

The U.S. exported more than 67 percent of imports by value and 150.5 percent by volume in 2011.

Source: Dept of Comm.